High street fashion giant Next has agreed to buy the rights to the troubled Cath Kidston fashion label.
The Leicestershire retail giant said it had agreed to acquire the brand name, domain names and intellectual property of CK Acquisitions Ltd from the administrators for £8.5 million.
As part of the agreement, the cathkidston.com website domain will be licensed back to the administrators for up to 12 weeks to allow stock to be cleared before the brand is relaunched under its new ownership.
