Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Cath Kidston set to enter administration

Cath Kidston set to enter administration

Mon, 06 Apr 2020 | ADMINISTRATION



Clothing, accessories and homeware retailer Cath Kidston has filed notice of its intention to appoint administrators, as the coronavirus shutdown continues to put pressure on high street retailers.

Prior to the onset of the coronavirus pandemic, the retailer had been in the midst of a turnaround plan. However, after the outbreak mandated store closures, it furloughed 820 of its 941 employees, remaining open online.

Last month, it appointed adviser Alvarez & Marshal and law firm Shoosmiths to oversee a review of the business and explore options, including a potential sale. A spokesperson for Cath Kidston says that the issuing of a notice of intention to appoint administrators is part of that process.

The spokesperson said that advisers continued exploring the best options for the company. There has reportedly been interest from potential buyers and, according to reports, a pre-pack administration is now seen as the most likely outcome.

In its most recent accounts, to the year ending March 25 2018, Cath Kidston reported a £10.5 million loss in EBITDA, saying that “upwards pressure on costs” and “tough underlying market conditions” had taken on a toll on its performance.

In those accounts, the retailer reported sales of £119.8 million, a 4.1 per cent increase from £115.1 million the year before. Gross profit, however, registered a 3.6 per cent drop, from £69.6 million in 2017 to £67.1 million in 2018.

At the time, Cath Kidston reported holding current assets of close to £71.1 million, total assets of around £85.5 million and net assets of almost £25 million.

Cath Kidston was founded in 1993 and has expanded to 60 shops in the UK and 200 locations globally. In 2016 it was acquired by Baring Private Equity Asia, for an undisclosed purchase price.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Commercial Vehicle Business For Sale
UK Wide

• Leasehold premises – 8 years left • Well-presented Website • 20ft x 8ft Portable Office • 10ft x 8ft Store room container • Water & electric on site • Site can hold 40 vehicles • Vehicles not included in sale – can be purchased on top of sal...

Asking Price: £270,000
Turnover: £701,493

LEASEHOLD


Supplier of Outdoor Sporting Equipment
UK Wide

Supplies a comprehensive range of specialist high-end sporting equipment, with individual models retailing at up to £5k. Primarily sells to the general public, holiday parks and activity centres, with additional revenue generated by the film and TV p...

Asking Price: Offers Invited
Turnover: £392,000

RELOCATABLE


E-Commerce Provider of Printed Garments & Accessories
UK Wide

Rapidly expanding online retailer of distinguished garments and accessories serving a diverse client base comprising both B2B and B2C custom. Using in-house printing and manufacturing software the company has cultivated a unique portfolio of clothing...

Asking Price: Offers Invited
Turnover: £4,584,000


View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
12
 
Nov
 

LK Bennett poised to launch CVA | BUSINESS NEWS

Premium womenswear retailer LK Bennett has launched a propos...

 
12
 
Jun
 

Le Pain Quotidien to close 10 UK locations in pre-pack administration | ADMINISTRATION

The British arm of Belgian bakery chain Le Pain Quotidien ha...

 
03
 
Jun
 

28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.