UK fashion retailer LK Bennett is set to shut all of its standalone stores after entering administration this week.
While the brand itself has been acquired by investment firm, Gordon Brothers, the agreement did not include the retailer’s physical shop estate. As a result, all remaining stores are expected to close permanently by the Spring. Administrators say the nine standalone shops and 13 department store concessions will continue trading for up to three months.
The locations that have been identified as being at risk of closure include London – New Bond Street, Knightsbridge, and Westfield White City, plus Bluewater Shopping Centre in Kent, Chester, and Harrogate.
LK Bennett concessions are also expected to trade for a limited period of up to three months. These include locations within John Lewis, Fenwick, Bentalls, Jarrolds, Hoopers, De Gruchy, and Arnotts & Brown Thomas across the UK and Ireland, according to news reports.
The company currently employs 56 head office staff and it’s been put into questions whether these jobs will remain following the acquisition. John Noon, Joint Administrator and Senior Director at Alvarez & Marsal, stated that the plan was to keep stores trading temporarily whilst winding down operations…
“We are pleased to have concluded this transaction, which will preserve the LK Bennett brand and its heritage of craftsmanship and quality,” he said.
The LK Bennett brand has grown rapidly since being founded in London in 1990; it’s best known for its women’s footwear, tailoring and occasionwear, famously loved by Catherine, Princess of Wales. The company employs around 145 staff across the UK and Ireland, with 89 working within the store and concession estate.
