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LK Bennett bid deadline looms

The fate of LK Bennett will be decided on Monday 25 March – the deadline for final offers from prospective buyers, which are thought to include founder Linda Bennett, as well as Mike Ashley.  

The womenswear business appointed Dan Hurd, Hunter Kelly and Craig Lewis of accountancy firm EY as joint administrators of its UK business on 7 March. Its international operations are not included in the administration. 

Drapers understands the company has had conversations with “a number of interested parties”. 

Sports Direct owner Mike Ashley has put forward an initial offer for the collapsed womenswear retailer. 

Drapers understands the company’s founder, Linda Bennett, is also considering making a bid. 

LK Bennett and EY declined to comment. 

LK Bennett will close five stores: Meadowhall in Sheffield, Bristol, Liverpool, and Brent Cross and Westbourne Grove in London. These closures will result in up to 55 redundancies. 

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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