Major fashion and homeware retailer launches huge clearance sale before all stores shut for good
A MAJOR fashion and homeware retailer has launched a huge clearance sale before stores shut forever.
Cath Kidston has launched a huge closing down sale and shoppers can get up to 50% off.
Shoppers can get products for the home, bags, fashion and kids and baby items up to half price.
Here are some of the savings we’ve found:
- GBBO Showstopper Recipe Notebook: was £14. Now £7
- Spirit Animals 2023 A5 Diary: was £20. Now £10
- Peace Dragon Kids Drawstring Bag: was £18. Now £9
- Woodland Bear Sleepsuit (0-24 Monts): was £20. Now £10
- Leopard Print Cotton Wrap Dress: was £60. Now £120
- Greenwich Flowers Universal Phone Case: was £20. Now £10
It comes after Next agreed to buy Cath Kidston, known for its kitsch floral designs, out of administration.
The high street giant bought the brand name, domain names and intellectual property for the business for £8.5million.
But the four remaining standalone Cath Kidston stores are set to close within weeks, once stock is sold off.
The four standalone stores that will close within weeks are in:
- Piccadilly, London
- Ashford, Kent
- Cheshire Oaks, Ellesmere Port
- York Outlet, York
Cath Kidston’s two concession stores, in Colne and Sheffield, will also shut up shop for good.
PwC said there “will be redundancies” at the business, which currently employs 125 people.
Shoppers will be able to buy any remaining stock online after the stores close.
PwC has confirmed that the Cath Kidston website will continue to operate as normal until no later than June 20.
Cath Kidston, founded in 1993, filed for administration in 2020 after the pandemic forced it into insolvency.
The brand was set up by designer Cath Kidston and had more than 200 outlets around the world at its peak.
After initially being privately owned, Cath Kidston was sold to a private equity firm in 2010 in a deal reported to be worth £100million at the time.
Baring Private Equity became a substantial shareholder in 2014 and then went on to take control in 2016.
The brand, e-commerce and wholesale parts of the businesses were bought from administrators by Baring Private Equity Asia in 2020, before Hilco snapped it up earlier last year.
Next’s most recent takeover of Cath Kidston is the latest in several takeover deals for struggling brands.
In November last year, it bought furniture store Made.com, which sold its intellectual property, brand and website to the retailer.
Next started selling Gap clothing online in late 2021 too, after it took over the running of the high street brand.
Meanwhile, earlier this year, it took a stake in baby and maternity clothing retailer JoJo Maman Bebe.