Cath Kidston to float at £250m in new year

Cath Kidston is to be put on the market for more than £250m next year, reports Sky News' City editor, Mark Kleinman.

The successful retailer, known for its floral, spotty and generally colourful homeware, is considering a new year sale that could see its eponymous founder net at least £50m.

The store has confirmed that it's hired UBS to "assess the options to take company to next stage in its evolution".

Cath Kidston has gone from strength to strength, opening a new flagship store on London's Piccadilly just yesterday. It has 143 shops worldwide, including a new one in Shanghai.

The sale is expected to attract a number of private equity firms, sovereign wealth funds, pension funds and other retailers.

Cath Kidston is being sold by equity firm TA Associates, which bought 60 per cent of the British store three years ago. Sky News says it is not yet established whether Ms Kidston intends to sell any of her shares or whether TA will be the only investor to part with its stake.