// Next is in advanced talks to snap up Cath Kidston
// Hilco, who owns the vintage retailer, put the retailer up for sale in February
Next is said to be in advanced talks to buy Cath Kidston as it eyes another troubled retailer to join the fold.
A deal could be made as early as today, Sky News reported.
Sources told the publication an agreement was likely but not certain.
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Cath Kidston owner Hilco put the retailer up for sale in February just eight months after buying it.
The deal would see the vintage-style retailer join Next’s portfolio of brands.
The retail giant, which has a penchant for struggling retailers, snapped up Joules and Made.com out of administration last year.
Prior to Hilco’s takeover, Cath Kidston was bought out of administration by Baring Private Equity Asia (BPEA) and saw the loss of nearly 1,000 jobs and 60 UK stores.
It currently operates from just four of its own outlets.
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1 Comment. Leave new
Next will buy its IP and brand and add it to its ever growing online profile of brands. Next isn’t interested in bricks and mortar stores as it only generates about £100m worth of profit (out of the £860m predicted on Wednesday update) from its ever shrinking store footprint which it’s reducing on the quiet.