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Exclusive: LK Bennett mulls head office sale as redundancies loom

LK Bennett has placed 10 senior management head office roles into “high risk” consultation and is mulling the sale of its London head office in an attempt to protect the business amid the fallout of Covid-19. 

The womenswear retailer has reviewed its head office structure as a result of the coronavirus outbreak, and will remove senior managers from the head office team structure as part of its campaign to ensure costs remain as low as possible across the business. 

The 10 roles include the senior managers in teams across finance, IT, HR, and design, each with salaries of between £60,000 and £100,000. 

Those affected are likely to be given notice within the next couple of weeks. They will be paid their full notice period. 

Meanwhile, LK Bennett is looking at further cost-cutting options, including the potential sale of its London head office, and is “seriously” considering getting rid of a head office altogether.

The retailer appointed EY as administrator of its UK business on 7 March. On 12 April Rebecca Feng, who ran LK Bennett’s Chinese franchises, bought the UK, Ireland and wholesale business of the premium womenswear retailer for £9.8m under the company Byland UK. 

Earlier this year the administrators extended the company’s administration process for a further year, due to “property matters” and other remaining work that needs to be completed.  

Readers' comments (3)

  • darren hoggett

    I think you'll be seeing a lot of this going forward. The way we communicate has changed arguably quicker than the industry, so expensive HQ's are becoming superfluous in many cases and will be sold.

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  • Mulls? Somehow don’t think there is a choice.

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  • They don’t own it!!

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