Cath Kidston, the modern vintage brand, has been put up for sale just two years after it went bankrupt and nearly 1,000 jobs were lost.
Baring Private Equity Asia has requested that PwC identify a buyer for the brand it acquired through a pre-pack insolvency proceeding in 2020.
Cath Kidston, which was founded by its namesake in 1993, became a mainstay of the high street with a multitude of standalone stores.
However, the epidemic harmed its finances, pushing it into administration in April 2020.
BPEA, which acquired full control of Cath Kidston in 2016, entered into a pre-pack insolvency agreement requiring the closure of its entire high street estate.
It maintains a small number of stores in Saudi Arabia.
According to city sources, PwC has been in discussions with prospective buyers for several weeks, although their identities remain unknown as of Friday.
Cath Kidston, renowned for her floral and polka-dot patterns, has been led for the past four years by Melinda Paraie, who arrived as chief executive in 2018 from luxury goods brand Coach.
From a small store in West London selling flea market treasures and vintage fabric, the company grew to include apparel, homewares, and accessories.
The chain’s founder amassed a fortune when she sold a stake to private equity company TA Associates approximately twelve years ago in a transaction allegedly for £100 million.
Baring Private Equity Asia became a significant shareholder in 2014.
Cath Kidston and BPEA did not respond to multiple requests for comment, while PwC declined to comment.
