Retail giant Next is in advance talks to add Cath Kidston to its portfolio of prominent but troubled retail brands.
According to Sky News, a deal could be made as early as today, but sources said an agreement was likely but not certain.
The vintage-style brand has been owned by retail investor Hilco Capital for less than a year.
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If successful, Joules will join the likes of Made.com and Joules, which Next bought out of administration last year, as the brand focuses on well known brands which have run into financial difficulties.
Prior to Hilco’s takeover, Cath Kidston was bought out of administration by Baring Private Equity Asia (BPEA).
The move saw the loss of nearly 1,000 jobs and 60 UK stores.
Next has been ranked as an Elite retailer in the 2023 RXUK Top500 report.