LK Bennett bought but 15 stores to close

Image copyright 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.


Recommended PRODUCTS
  • Are you frustrated that your expensive karoke player does not let you play.
  • Learn how to make wonderful smelling candles that put expensive candles sold in stores.
  • See numerous porch designs from various perspectives up close, from the street.
  • Learn how you can easily create mobile apps to generate passive income.
  • Download the latest official drivers for your PC fix driver problems and keep them updated.
  • Insights how to make money regardless of market direction in 11 modules
  • Scans your computer for missing, corrupt, or outdated Windows Drivers.
  • The Best RSS Autoblog Tool For Blogger Blogspot Blog.
  • Quickly cure your acid reflux and enjoy permanent freedom from heartburn
  • Breakthrough science proves it now you can finally get rid of chronic urticaria
  • Discover How Your Beliefs and Emotions Affect Your Ability To Achieve All Your Goals And Dreams.
  • Discover One Weird Trick That Forces Your Body To Eliminate Hemorrhoids In 48 Hours
  • How to give women intense multiple orgasms watch closely
  • Discover how to boost your goal achieving skills in 30 days, guaranteed
  • Clickbank Ads
     

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

    Ms Feng said: “Under our plan, the business will continue to operate out of the UK, looking to maintain the long-standing and undoubted heritage of the brand.

    “This will be achieved through a combination of working with quality British design, and the business’s existing supply chain.”

    The UK 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

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

    LK Bennett was founded by Linda Bennett in 1990, and counts the Duchess of Cambridge as a customer.

    Ms Bennett sold her majority stake in the chain to private equity firm Phoenix Equity Partners in 2008, but in 2017 returned to advise the business after the retailer started to struggle. She bought the company back a short time later.

    The chain reported an operating loss of nearly £6m in the year to the end of July 2017, the most recent results available for the firm.

    The accounts show that on her return, Ms Bennett invested about £11.2m into the business.

    LK Bennett called in the administrators last month, and five stores – Sheffield Meadowhall, Bristol, Liverpool, London Brent Cross and London Westbourne Grove – were closed.

    Shortly before the business fell into administration, Ms Bennett emailed staff saying 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 had said.

    Related Topics

    Original Article : HERE ; This post was curated & posted using : RealSpecific

     


    Recommended PRODUCTS
  • Learn how to make wonderful smelling candles that put expensive candles sold in stores.
  • Are you frustrated that your expensive karoke player does not let you play.
  • Get All The Clever Scenery Ideas To Plan And Build Your Very Own Model Railroad Layout.
  • Find the nearest natural nuclear shelters in the US that are absolutely free.
  • Learn How To Attract the Man of Your Dreams And Receive A Marriage Proposal In Few Months
  • Know how to eliminate bacterial vaginosis forever in 72 hour.
  • Insights how to make money regardless of market direction in 11 modules
  • The stunning secret of turning your wife on with the push of a button.
  • Packed full of the info you need for profitable horse racing
  • Dont Let Social Anxiety Control Your Life Any Longer. Start Living.
  • Discover A Habit Busting Program Gives You The Ability You Have Always Wanted.
  • Change Your Mind, Change Your Life Influence Your Mind and Others.
  • Become A Certified Usui Reiki Healing Master With The Latest Reiki Certification Program.
  • Credit repair magic will fix your credit faster than any other credit repair system.
  • A Truly Unique Extract Of The Greatest Methodologies For Keeping The Body And Mind Young And Agile.
  • Clickbank Ads
     

    Thank you for taking the time to read our article.

    If you enjoyed our content, we'd really appreciate some "love" with a share or two.

    And ... Don't forget to have fun!

    Recommended

    IPP - 26 PLR Profit Pack Special

    Instant Product Publisher - 26 PLR Profit Pack Special - Grab 26 Super High Quality Ready Made Products

    Reviewify360 [OTO4] - Reseller Package (Silver)

    Access your own Admin Panel Ability to add and remove Team Members 100% Commissions for Reselling Reviewify360

    Evergreen Traffic Academy 8 Funnels

    Evergreen Traffic Academy 8 Funnels

    Leave a Reply