LK Bennett has appointed administrators today 7th March and shut down its website.
LK Bennett has announced that it is lining up administrators today. EY are the likely administrators in the event that the company cannot find new funding. In the last set of accounts the company lost £6m. The business has 41 shops in the UK and employs 500 people.
In an email to staff, Ms Bennett said she had "fought as hard as I can, with all your help to turn the business into the success that I know it deserves to be".
"These are difficult and unstable times, and we are doing everything we can to identify the best way forward," she added.
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" so perhaps Mrs May is a fan too!
So what has happened?
Problems on the High Street have been well documented recently with high rents and rates, uncertainty, increases in minimum wages.
As of 7th March LK Bennett have appointed administrators as it has now run out of time to find a buyer. It is likely that the company will continue to trade in some form as the brand has value.
Categories: What is administration