As reported by Punchline-Gloucester.com yesterday (March 28), Cath Kidston has been saved from administration.

The vintage style fashion and homewares brand has been snapped up by Next for £8.5 million in a pre-pack deal, as reported by Retail Gazette.

The retail giant has agreed to acquire Cath Kidston's brand name, domain names and intellectual property.

Cath Kidston's web domain name will be licenced back to the administrators for up to 12 weeks for stock clearance, before the brand relaunches under Next's ownership.

The retailer employs 125 people and has stores in London, Ashford, Cheshire Oaks, and York. The stores will remain open to clear stock before closing permanently.

Next has bought up a number of struggling brands recently and bought Joules and Made.com out of administration last year.