LONDON - Abercrombie & Kent UK has emerged as a white knight to acquire distressed Cox and Kings UK, saying it was in advanced discussions to buy the company.
An acquisition would safeguard current and Cox & Kings UK's future bookings and employees.
A&K co-chairman Geoffrey Kent said that if his bid is successful, his business would make investments in the new acquisition. "This is just the start of our growth plans in the UK and globally," he said.
Kent had earlier said A&K was interested in acquiring a four-star product.
If acquired, Cox and Kings would retain its name and be run "side by side as a secondary brand”, according to a company spokesperson.
A&K UK is run as a separate company from A&K in the U.S.
Cox & Kings UK is separate from Cox & Kings, The Americas, which suspended operations in October.