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Cath Kidston to appoint administrators

Cath Kidston has filed notice that it will appoint administrators amid the coronavirus outbreak, putting around 950 jobs at risk. 

Last month the clothing, accessories and homeware retailer hired adviser Alvarez & Marsal and law firm Shoosmiths to undertake an urgent review of the business, including a potential sale. 

The issuing of the notice of intention to appoint administrators is a step in that process, as the advisers continue to explore interest in the business. 

A spokeswoman for the retailer told Drapers: “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.”

Known for its floral prints, the retailer reported a £10.5m EBITDA loss for the 52 weeks to 25 March 2018, citing “upwards pressure on costs” and “tough underlying market conditions” for its poor performance.

In September 2018, Cath Kidston reviewed its UK store portfolio as it sought to relocate some stores to higher footfall locations.

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