Cath Kidston on verge of administration with race to find buyer

mirror.co.uk:

Modern vintage retailer Cath Kidston is teetering on the edge of administration. The clothing and homeware shop filed a notice of intention with administrator Alvarez & Marsal on Friday, Sky News reported.

It comes two weeks after the brand instructed A&M to find a buyer for the business, which is owned by Baring Private Equity Asia.

Several credible offers have been received, it has been reported. A Cath Kidston spokesperson said: "The notice of intention forms part of the process by which Cath Kidston is continuing to work with Alvarez & Marsal to explore all options for the company in the current climate".

The notice of administration means that the company now has ten days to find a buyer before creditors move in. Cath Kidston was set