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High street giant Next is reportedly in talks to pick up the vintage-inspired Cath Kidston chain.
According to reports from Sky News’ Mark Kleinman late on Monday evening, Next is set to add the brand to its growing portfolio.
Cath Kidston would become the latest struggling retailer Next has swooped in to purchase.
Next snapped up Made.com for £3.4million in November 2022 after the online furniture retailer crashed into administration.
Just one month later, Next also went on to save fashion group Joules in a deal worth £34million.
Next has over 500 stores across the UK.
Cath Kidston, meanwhile, has closed dozens of shops over the last few years, with only four now remaining in the UK.
It crashed into administration in 2020 with the loss of nearly 1,000 jobs but was rescued following a deal by Baring Private Equity Asia (BPEA).
But the arrangement saw all its physical stores close, in yet another blow for the UK high street, with its presence still mainly online today.
BPEA had been a Cath Kidston shareholder since 2014, took full control of the business in 2016, and went on to exit the company altogether in July 2022.
Cath Kidston has been owned by Hilco Capital ever since – meaning its last big takeover happened less than a year ago.
Hilco is reported to have held talks with a number of potential bidders for a sale, with PricewaterhouseCoopers said to be advising.
The firm has also previously rescued Homebase, HMV, Oasis and Warehouse from administration.