Cath Kidston put up for sale two years after collapse into administration

Cath Kidston owner Baring Private Equity Asia (BPEA) has 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.

PwC took Cath Kidston through a pre-pack insolvency process in April 2020 after “its fortunes were hit by the pandemic”, according to Sky News.

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.

The iconic English brand, known for its vintage-look floral prints, has been run for the past four years by Melinda Paraie, who came in as CEO from luxury goods brand Coach in 2018.

PwC has reportedly “been engaged with prospective buyers for a number of weeks”, but their identities are as yet unclear.