Cath Kidston Japan Arm Goes Bankrupt due to Coronavirus
Tokyo, April 23 (Jiji Press)--The Japanese arm of British homeware and fashion brand Cath Kidston filed for bankruptcy with some 6.5 billion yen in debts on Wednesday due to the coronavirus pandemic, Tokyo Shoko Research Ltd. said.
Cath Kidston Japan fell into financial difficulty as the pandemic reduced customer traffic, the private credit research firm said.
The brand was established in London in 1993. Its floral-printed bags and pouches gained popularity among women of all ages.
The Japanese arm had been in charge of planning and store management since September 2015. It had some 40 outlets at shopping malls and department stores across Japan.
In Britain, all Cath Kidston stores have been shut due to the pandemic.
[Copyright The Jiji Press, Ltd.]