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Exclusive: Chinese partner to buy LK Bennett tonight

Rebecca Feng, who runs LK Bennett’s Chinese franchises, is expected to sign a deal for the premium womenswear retailer later this evening, Drapers can reveal.

Feng tabled an offer for LK Bennett last month under the newly incorporated company Byland UK.

Drapers understands that she is the current frontrunner to buy the business out of administration. A deal is expected to be finalised tonight and an official announcement to be made tomorrow morning. 

It comes after founder Linda Bennett is understood to have dropped out of the bidding process on 2 April.

Byland UK has been working with Darren Topp and Andrew Ellis, LK Bennett’s former chief executive and finance director respectively, on its bid offer. 

Administrators EY and LK Bennett have been contacted for comment. 

LK Bennett appointed Dan Hurd, Hunter Kelly and Craig Lewis of EY as joint administrators of its UK business on 7 March. 

The company employs 480 staff in the UK across 39 stores, 37 concessions and its London head office.

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

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