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Dune bids for LK Bennett

Footwear retailer The Dune Group has reportedly tabled a last-minute bid for premium womenswear retailer LK Bennett, following its collapse into administration earlier this month.

Sky News has reported that The Dune Group was among several parties that entered last-minute bids for LK Bennett. Founder Linda Bennett and Mike Ashley are also thought to be among the business’s prospective buyers.

LK Bennett’s administrator, EY, is said to be assessing offers, and a buyer expected to be chosen within days. It is not clear how much The Dune Group has offered for the business.

Dune operates 40 stores and more than 170 concessions in Topshop, House of Fraser, John Lewis and Selfridges. It also has more than 60 franchise stores.

LK Bennett appointed Dan Hurd, Hunter Kelly and Craig Lewis of accountancy firm EY as joint administrators of its UK business on 7 March. This will lead to the closure of five stores: Meadowhall in Sheffield, Bristol, Liverpool, and Brent Cross and Westbourne Grove in London. The closures will result in up to 55 redundancies.

In its most recent results, for the year to 31 July 2017, LK Bennett had an operating loss of £5.9m.

Dune, EY and LK Bennett declined to comment. 

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