Cath Kidston went from £100M to double administration — Next paid £8.5M for the brand

Cath Kidston started in 1993 in a small shop in London's Holland Park, selling hand-embroidered tea towels and vintage-inspired homeware. The brand grew into a British lifestyle icon by the 2000s, known for its signature floral prints on everything from bags to kitchenware. By 2010 the founder sold a majority stake to private equity firm TA Associates for around £100 million, and by 2013 there were 136 outlets worldwide including stores in China.

The brand's first collapse came in April 2020, when the COVID-19 pandemic forced all 60 UK stores to close permanently. Approximately 900 jobs were lost. The business was sold to distressed investor Hilco Capital and continued as an online-only operation. Two years later, Hilco explored another sale.

In March 2023, Cath Kidston entered administration for the second time. Next plc bought the brand name, domain, intellectual property, and website out of administration for £8.5 million. The deal did not include any physical stores. Remaining jobs were cut, and the brand's Cheshire Oaks outlet store closed permanently. Under Next, Cath Kidston operated as a digital-only brand sold through Next's platform.

The brand attempted a cautious high street return in late 2024 with a small flagship in Piccadilly. But the business that once had 136 outlets and a £100M valuation had been reduced to a licensing operation inside a larger retail group.