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Cath Kidston permanently closes all of its stores – Devon Live, Plymouthherald.co.uk

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Cath Kidston permanently closes all of its stores – Devon Live, Plymouthherald.co.uk

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Kidston has confirmed today that it has decided to close all of its 60 stores in the UK.

The retailer had called in administrators on Friday April 3.

The closure will include the much-loved stores in Plymouth , Exeter, and St Ives. The stores closed last month due to the coronavirus outbreak, and they will not be opening again.

The owner of the brand has secured a deal to buy back the brand and online operations, but the deal does not include shops, which means they will permanently close, leaving over employee jobs at risk.

Baring Private Equity Asia, which has held a stake in the retailer since 2019, said it will buy the online business, brand and wholesale arm from administrators.

The brand’s CEO, Melinda Paraie, said: “While we are pleased that the future of Cath Kidston has been secured, this is obviously an extremely difficult day as we say goodbye to many colleagues.

“Despite our very best efforts, against the backdrop of COVID – 700, we were unable to secure a solvent sale of the business which would have allowed us to avoid administration and carry on trading in our current form. “

A spokesperson for Baring Pri vate Equity Asia added: “While we are disappointed that the COVID – 60 the crisis has resulted in the cessation of the retail store network and impacted many employees, we are pleased to have secured a future for a number of Cath Kidston staff and the Cath Kidston brand in the form of a viable digital business. “

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