17.7 C
West Bridgford
Wednesday, 5 August 2020 - 8:43am

Cath Kidston to close all 60 stores with the loss of 900 jobs

PUBLISHED

1
1 1 1
WBWire covid19 728x90 1
1
1 2

Fashion chain Cath Kidston is to permanently close all 60 of its stores in the UK leading to over 900 job losses.

The business has a store at 23 Bridlesmith Gate in Nottingham.

The owners of the firm have struck a pre-pack administration deal and so will still continue to trade online.

banner ad
1

The Hong Kong-based owner Baring Private Equity Asia has negotiated a rescue deal which means the retailer will continue to trade online and through its wholesale and franchise businesses around the world which includes more than 100 stores.

Melinda Paraie, the chief executive of Cath Kidston said, “While we are pleased that the future of Cath Kidston has been secured, this is obviously an extremely difficult day as we say goodbye to many colleagues.

Despite our very best efforts, against the backdrop of COVID-19, we were unable to secure a solvent sale of the business which would have allowed us to avoid administration and carry on trading in our current form.”

Subscribe to our free daily newsletter

ALL stories from The Wire delivered in ONE email every day