Fashion brand LK Bennett on brink of collapse
Clothing chain acquired by China-based backers out of 2019 insolvency applies to appoint administrators
TL;DR
- LK Bennett has filed an application to appoint an administrator, indicating a potential collapse.
- This would be the second administration for the company in six years.
- The brand was acquired out of insolvency in 2019 by its Chinese franchise partner, Rebecca Feng.
- Recent accounts show a £3.2m loss and borrowings of almost £22m.
- Auditors warned of 'material uncertainty related to going concern' and breaches of lender agreements.
- The company has nine UK stores and 13 concessions listed on its website.