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LK Bennett's Chinese franchise partner makes offer

Rebecca Feng, who runs LK Bennett’s Chinese franchises, is the latest party to make a bid for the premium womenswear retailer, which fell into administration earlier this month. 

Feng has tabled an offer under the newly incorporated company Byland UK. 

A source close to the situation told Drapers: “[Administrators] EY have said that they’re clearly seriously considering the offer. Rebecca has always been a big supporter of the brand and she sees huge potential for the international potential of the business, and wants to protect as many jobs in the UK as possible.” 

The news comes after footwear retailer The Dune Group made a last-minute bid for the retailer earlier today. Founder Linda Bennett and Mike Ashley are also thought to be among the business’s prospective buyers, and there has been a late bid from Edinburgh Woollen Mill Group’s Philip Day, Drapers understands. 

LK Bennett’s administrator EY is said to be assessing offers, and a buyer expected to be chosen within days.

Dune operates 40 stores and more than 170 concessions in TopshopHouse of FraserJohn Lewis and Selfridges. It also has more than 60 franchise stores.

LK Bennett appointed Dan Hurd, Hunter Kelly and Craig Lewis of 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, and up to 55 redundancies.

EY and LK Bennett declined to comment. 

 

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