Twice-collapsed stationery retailer Kikki.K has been thrown a lifeline by Brandbank Group, which said on Friday it intends on picking the brand up from the company’s administrators.
According to Brandbank Group, most head office, retail and online employees will retain their jobs, and approximately 30 stores will remain open.
“We are delighted to have Kikki.K join our stable of world-class brands,” said Brandbank Group chief executive David Thomas.
“Kikki.K has a strong following of passionate customers and a loyal team behind it. Our focus is to work together with the Kikki.K team to create a successful future of the brand.
“We’re looking forward to expanding the online store, re-energising the retail store network as lockdown restrictions are lifted, improving the customer experience and exploring medium-term international opportunities for Kikki.K.”
The sale is expected to be completed in the coming weeks, and ensures job security for many Kikki.K employees, said administrator Quentin Olde.
This is the second time the business has been sold in two years, having been sold in June 2020 to Texas-based Erin Condren Designs in a deal to save its 65 stores at the time.