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. At the time it had around 250 employees and sales of around £18.7m.