Popular store at Kildare Village to close permanently as company goes into administration

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Kildare Village store to close permanently as company goes into administration

A stock item in Cath Kidston

Cath Kidston is to permanently shut its store at Kildare Village. 

The busy outlet was popular with shoppers buying gifts for family and friends. 

A total of 60 Irish and UK stores are closing with the loss of more than 900 jobs.

The fashion retailer confirmed this week that its stores will not reopen once the Covid-19 lockdown due to financial difficulties. 

However the company’s owners secured a deal to buy back its brand and online operations following its fall into administration.

The retailer also has an Irish outlet on Grafton Street in Dublin and another in Belfast.

Kildare Village has been closed since March 24 due to Covid-19 restrictions. 

Baring Private Equity Asia (BPEA), which has held a stake in Cath Kidston since 2014, said it would buy the online business, brand and wholesale arm from administrators Alvarez & Marsal.

Only about 32 of its 940 staff would see their jobs secured as part of the deal.

Melinda Paraie, chief executive of Cath Kidston, said: “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.”

BPEA said it was pleased to have secured a future for a number of Cath Kidston staff and the Cath Kidston brand in the form of a viable digital business.