BSR
BSR
  • 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
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Cath Kidston set to enter administration

Cath Kidston set to enter administration

Mon, 06 Apr 2020 | ADMINISTRATION

Cath Kidston set to enter 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

Leading Pet & Aquatic Retailer
Ickenham, South of England, UK

Established for approximately 6 years – this company has grown to become one of the leading pet and aquatic retail businesses in the area. It has a predominantly domestic customer base – the vast majority of its sales are to the domestic market.

Asking Price: £62,000
Turnover: £750,000

LEASEHOLD


E-commerce Supplier of Coffee Products
UK Wide

The company produces and supplies a wide range of coffee products created using ethically sourced beans from South America. The core products comprise wholebeans, grounds, single-origin roasts, blends, cold brews and compostable pods.

Asking Price: £300,000
Turnover: £200,000

LEASEHOLD


Luxury Vehicles Retailer Utilising a Showroom-free Business Model
UK Wide

The company offers an extensive range of luxury cars, including vehicles from prestigious manufacturers such as Aston Martin, Ferrari, Lamborghini and Rolls Royce. The business operates with a unique showroom-free approach, utilising a dedicated onli...

Asking Price: Offers Invited
Turnover: £97,000,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

 
06
 
Feb
 

Australian firm announced as preferred bidder for collapsed UK battery start-up | ADMINISTRATION

Recharge Industries has been named as the preferred bidder f...

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

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.