Baring Private Equity Asia to acquire Cath Kidston.

Investment firm Baring Private Equity Asia agreed to acquire Cath Kidston, a British international home furnishing retail company, in a rescue deal. Financial terms were not disclosed. "While we are pleased that the future of Cath Kidston has been secured, this is obviously an extremely difficult day as we say goodbye to many colleagues. Despite our very best efforts, against the backdrop of Covid-19, we were unable to secure a solvent sale of the business which would have allowed us to avoid administration and carry on trading in our current form. I would like to thank all our employees for their hard work, loyalty and patience over the last few weeks as we worked through this process," Melinda Paraie, Cath Kidston CEO.