 In March 2003, the company bought YHA Outlets, a chain of fifteen outdoor products retail outlets.The acquisition was not a success – partly due to misjudged price cutting at stores of products including Karrimor's own – and Karrimor were unable to recover.The falling sales, and Cullinan's 'unwillingness' to invest in the business (according to its receiver) led to the company going into receivership in March 2004.