Cath Kidston closing all UK shops after entering administration

Cath Kidston is set to close all UK shops after entering administration.

The retailer has 60 shops in the UK, including one in Liverpool ONE.

The owner of the brand has secured a deal to buy back the brand and online operations, but the deal does not include shops, which means they will permanently close.

Baring Private Equity Asia, which has held a stake in the retailer since 2014, said it will buy the online business, brand and wholesale arm from administrators Alvarez & Marsal.

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Melinda Paraie, chief executive officer of Cath Kidston, said: "While we are pleased that the future of Cath Kidston has been secured, this is obviously an extremely difficult day as we say goodbye to many colleagues.

"Despite our very best efforts, against the backdrop of Covid-19, we were unable to secure a solvent sale of the business which would have allowed us to avoid administration and carry on trading in our current form.

"I would like to thank all our employees for their hard work, loyalty and patience over the last few weeks as we worked through this process."

Cath Kidston is just one of several retailers that has fallen into administration during coronavirus.

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Debenhams, Warehouse and Oasis have all also called in administrators in the past few weeks.

Debenhams has managed to save around 120 of its 142 UK stores after agreeing terms with landlords, but have announced seven will close.

Among the seven stores which are closing, one is Debenhams' Warrington store.

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Further closures have not been ruled out at this stage.

Stefaan Vansteenkiste, Debenhams chief executive, said: "I'm delighted with the progress we are making with our landlord discussions which reflects the pragmatic view the vast majority of them are taking of the current market conditions.

"We have agreed terms on the vast majority of our UK stores and talks are proceeding positively on the remainder, positioning us to reopen these stores when government regulations permit.

"Regrettably we have been unable to reach agreement on seven stores and these will not be reopening, and I’d like to express my thanks to our colleagues in these stores at what I know is a difficult time for everyone".

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