United Kingdom womenswear chain LK Bennett falls into administration — International Business

United Kingdom womenswear chain LK Bennett falls into administration — International Business

The company's Irish operation will not be affected as of yet however, as that comes under its global arm which is not part of the administration process.

The company, which is famed for its kitten heel shoes and counts the Duchess of Cambridge among its customers, has appointed the accountancy firm EY to manage the administration of its 41 shops, and 55 people were immediately made redundant.

Whether this includes staff at concession stores such as the one in Norwich's Jarrolds and John Lewis, has not been confirmed.

EY added: 'A sale process for the business has commenced.

The failure is the latest in a string of mid-market women's fashion labels to buckle under the pressure of dwindling high street sales.

British retailer LK Bennett has been placed into administration.

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Stores will continue to trade in the meantime, but the company's website has been temporarily suspended.

Last month it was reported that Bennett was casting around for new backers, but last Friday it emerged that the company had filed notice of intention to appoint an administrator.

LK Bennett, which has two Scottish stores in Edinburgh and Glasgow, has gone into administration, with nearly 500 jobs at risk UK-wide.

The fashion retailer, known for its smart daywear, attracted celebrity fans over its near 30-year history, including the Duches. With the rise of competition from online retailer offering cheap easy alternatives it's hard for high street brand to survive.

The company is owned by founder Linda Bennett, who stepped back from the brand in 2008, but returned in 2017 as a consultant. "Anyone who works in the industry who may be anxious about the future of their jobs should hope for the best but prepare for the worst".

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