LK Bennett bought but 15 stores to close


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Reuters

High-end fashion chain LK Bennett has been bought out of administration, saving 325 jobs.

However, 15 of the retailer’s stores are not included in the deal and will close, leading to the loss of 110 jobs.

LK Bennett has been bought by Byland UK which was set up by Rebecca Feng, who runs the company’s Chinese franchises.

The sale includes the company’s headquarters, 21 stores and all of its concessions. The amount paid has not been disclosed.

The administrators said the company’s international subsidiaries were also not included in the sale and would remain in administration.

Dan Hurd, joint administrator, said: “With an established, luxury UK brand, the company received offers from a number of parties.

“We are pleased that we have completed a sale to Byland UK Limited, preserving the jobs of 325 employees across 21 stores, and that the business continued to trade through the administration process, helping to provide continuity of service for its loyal customer base.

The stores not included in the sale and which will now close are:

  • Bath
  • Belfast
  • Birmingham
  • Bridgewater, Banbridge
  • City, Royal Exchange, London
  • Glasgow
  • Gloucester
  • King’s Road, London
  • Knightsbridge, London
  • Long Acre, London
  • Northcote Road, London
  • St Albans
  • Westgate Oxford
  • York
  • York Outlet



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