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Phoenix Equity in exclusivity on LK Bennett

Womenswear and footwear retailer LK Bennett is expected to be sold to Phoenix Equity Partners for between £80 million and £100m within weeks.

LK Bennett, which was put up for sale at the end of last year, is understood to have entered in to exclusive sale talks with private equity firm Phoenix Equity, according to reports.

Founder Linda Bennett was hoping to sell the business before the new capital gains tax laws came into effect on April 5 but was understood to have missed the deadline as buyers struggled to meet her price demands.

The final sale is expected to be worth between £80m and £100m, well below the original mooted £150 million price tag.

LK Bennett has more than 70 shops across the UK and Ireland.

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