Two years after going into administration and losing some 900 jobs, the British retailer Cath Kidston is reportedly being put up for sale.
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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.
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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.