Next has confirmed that it agreed to acquire the Cath Kidston (CK) brand name, domain names and intellectual property of CK for £8.5m in a pre-pack deal after the business entered administration.
Next will licence the cathkidston.com domain back to administrators PwC for 12 weeks to enable them to clear stock. The four stores will also continue to trade in the short term while operations are wound down. Around 125 jobs are likely to end with redundancy.
Next will then relaunch the brand.
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