Cath Kidston “in discussions” with potential buyer Hilco
Prominent financial investor and advisor Hilco is reportedly looking to buy “modern vintage” brand Cath Kidston.
On Monday it was reported that Cath Kidston’s owner Baring Private Equity Asia (BPEA) had instructed advisors PricewaterhouseCoopers (PwC) to find a buyer for the brand, only two years after it fell into administration with the loss of nearly 1,000 jobs.
Hilco, which invests in a wide range of retailers and sectors including home improvement and garden retailer Homebase and premium loudspeakers brand Bower & Wilkins, has been “holding detailed talks” with BPEA, according to Sky News.
It’s unclear if other potential buyers remain in contention, but a source told Sky News that it was “effectively Hilco’s to lose”.
BPEA took full control of Cath Kidston in 2016, following becoming a substantial shareholder in 2014, but when the pre-pack insolvency deal was struck it meant the closure of all of the brand’s UK high street stores. It subsequently opened a store on London's Piccadilly in December 2020 (pictured above).