// Next snaps up Cath Kidston in £8.5m deal
// The fashion retailer will acquire Cath Kidston’s brand name, domain names and intellectual property
Next has agreed to acquire Cath Kidston’s brand name, domain names and intellectual property after the business fell into administration.
The retail giant paid £8.5m for the intellection property in a pre-pack deal.
The cathkidston.com domain will be licenced back to the administrators for a period of up to 12 weeks to clear stock, prior to the brand’s relaunch under Next’s ownership.
Cath Kidston owner Hilco put the retailer up for sale in February just eight months after buying it.
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Next has a penchant for snapping up struggling retailers and bought Joules and Made.com out of administration last year.
Prior to Hilco’s takeover, Cath Kidston was bought out of administration by Baring Private Equity Asia (BPEA) and saw the loss of nearly 1,000 jobs and 60 UK stores.
