Two years after going into administration and losing some 900 jobs, the British retailer Cath Kidston is reportedly being put up for sale.
According to a source, Baring Private Equity Asia (BPEA), the owner of the British company, reportedly contacted PricewaterhouseCoopers (PwC) consultants to find a new owner.
Following the news, BPEA, which acquired control of the company in 2016, set up an insolvency agreement, which led to the closure of the brand’s whole high-street presence, while the business is still running a few outlets in Saudi Arabia.
Melinda Paraie, a former executive at Coach who was named CEO of Cath Kidston in 2018, is still in charge of the business.
Although their identities have not yet been revealed, PwC is reported to have been in contact with a number of potential buyers for the business for numerous weeks.