Next confirmed it has snapped up the Cath Kidston brand in a deal worth £8.5mln.
The vintage-inspired homeware retailer fell into administration for the second time before the FTSE 100 company’s takeover.
PWC is managing the administration, and it is understood that roughly 125 jobs are at risk once the company’s four locations, including one in London, are closed.
Next has been on a shopping spree, snapping up failing legacy brands and utilising its marketing and distribution prowess to help them maintain a UK presence.
In recent years, alongside its purchase of Cath Kidston, the retailer has bought fashion brand Joules for £34mln and Made.com for £3.4mln, while further back in 2008 it purchased Lipsy for £17.4mln.
Aside from outright buying brands, Next has also quietly built stakes in some high-street favourites.
Last year, it bought a majority stake in luxury retailer Reiss, while it also owns 44% of Jojo Maman Bébé, a maternity and baby clothing retailer.
Next also has majority stakes in Victoria’s Secret UK and Gap UK.