LK Bennett filed a notice of intention to appoint administrators before Christmas. As such, it looks like the company is going into administration for the second time.
Following the last administration the firm was ultimately acquired by Rebecca Feng, who ran the brand’s franchises in China, through Byland UK. The estate was reduced to just 9 stores.
Following the acquisition, the firm initially experienced growth, expanding into new categories such as bridal wear, opening stores in key locations, returning to profitability and moving its flagship store and headquarters to Bond Street in London. However it looks like its success was shortlived.
LK Bennett, has 9 stores in the UK and employs 500 people. The company are struggling financially, and looking to close if no new funding can be found.
Problems on the High Street have been well documented recently with high rents and rates, uncertainty, and increases in minimum wages.
The Duchess of Cambridge has been a big fan of the brand and so to have been many middle class affluent shoppers. Ms Bennett was described as the “queen of the kitten heel” However this time it looks likely to be gone forever on the High Street.
Written ByRobert Moore
Marketing Manager
Rob has over a decade of experience in web and general marketing. He has extensive knowledge of the Insolvency sector and has helped many worried directors with their questions.
Rob is now working with the Board at RMT KSA to develop strategic marketing programmes to support the business plan and drive more company rescues.
