CK Acquisitions Limited (12528955): administration
- Status
- Administration ended
- Administration began
- 2023-03-28
- Administrators
- Zelf Hussain, Rachael Wilkinson
- Administrators' firm
- PwC
- Incorporated
- 2020-03-20
- Location
- Leeds
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
- Funding withdrawn / unable to refinance
From the administrators' statement
CK Acquisitions Limited (CKAL) was incorporated on 20 March 2020 and is the legal entity name for the trading of the Cath Kidston brand. Cath Kidston is an e-commerce led, international home furnishing and lifestyle brand with headquarters in London, focussing on quintessentially British themed handicraft and vintage themed items. The Cath Kidston brand was originally founded in 1993 with the first store opening in Notting Hill, London.
Cath Kidston Limited (the previous trading entity) experienced difficult trading conditions which were exacerbated by the Covid-19 pandemic and resulted in Cath Kidston Limited being placed into administration in April 2020, this led to the closure of all 60 UK stores and the loss of 900 jobs. Baring purchased part of the trade and assets of Cath Kidston Limited through a “pre-pack” administration deal in April 2020 and formed a new company, CK Acquisitions Limited. CKAL significantly reduced its physical store footprint and focused on a digital-first proposition and operated across four main segments:
1. Aglobal direct to consumer online sales channel;
Administrators' statement of proposals (2023-04-15) · Companies House register