High street company Next and a group of investment firms purchased the baby and maternity retailer JoJo Maman Bébé. As part of the deal, Next purchased 44 percent of the retailer, while the hedge fund Davidson Kempner Capital Management will control the remaining 56 percent. Founder Laura Tenison will leave the business, according to The Guardian. Other terms of the deal were not reported.

JoJo Maman Bébé, a brand with 87 stores, first attracted attention when Catherine, the Duchess of Cambridge began wearing the brand and dressing her children in it. As of March, Next cut its profit expectations for the year by 10 million pounds, citing concerns over the war in Ukraine and inflation.

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