Cath Kidston stores to close after Next acquisition
Next has acquired the brand and IP rights to Cath Kidston, resulting in the closure of the home furnishing and lifestyle retailer’s four stores.
Administrators at PwC have completed the sale of the brand, website and intellectual property of CK Acquisitions to Next Retail. Redundancies are expected as a result of the process.
Cath Kidston employs 125 people, with stores in London, Ashford, Cheshire Oaks, and York. Those locations will remain open to trade down stock, before closing permanently.
Next has acquired the brand and IP rights to Cath Kidston, resulting in the closure of the home furnishing and lifestyle retailer’s four stores.
Administrators at PwC have completed the sale of the brand, website and intellectual property of CK Acquisitions to Next Retail. Redundancies are expected as a result of the process.
Cath Kidston employs 125 people, with stores in London, Ashford, Cheshire Oaks, and York. Those locations will remain open to trade down stock, before closing permanently.
The four locations are: 178-180 Piccadilly, W1; Ashford Designer Outlet; Cheshire Oaks Designer Outlet at Ellesmere Port; and York Designer Outlet.
Zelf Hussain, joint administrator and partner at PwC, said the administration was triggered by “incredibly challenging market conditions” during the past few years including the pandemic restrictions, and “most recently the decline in consumer spending driven by cost of living pressures and rising costs”.
“In the short term its four stores will continue to remain open whilst operations are wound down,” said Hussain.
“Sadly, there will be redundancies during this period of wind down and we will continue to support the staff throughout this period.”
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
