LK Bennett: Irish stores saved after being bought by Chinese franchise partner

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LK Bennett: Irish stores saved after being bought by Chinese franchise partner


LK Bennett Irish stores saved
LK Bennett Irish stores saved

LK Bennett, the UK’s “affordable luxury” fashion brand whose fans include Kate Middleton has been bought out of administration by its Chinese franchise partner.

Administrators from EY said they had completed the sale of most of its stores in the UK and Ireland to Byland UK.

Its two stores in the Republic; in Dundrum Town Centre and Kildare Village along with six concessions were bought as part of the deal.

Two stores in Northern Ireland  – Bridgewater Park in Banbridge, Co. Down and Victoria Square, Belfast – were not included and will close, as will 13 outlets in Britain.

The Byland sale includes the company’s headquarters, 21 stores, all of its concessions, and 325 employees.

The business went into administration on March 7th.

The company’s US and mainland Europe arms were not included in the sale and remain on the market.

EY’s Dan Hurd, Hunter Kelly and Craig Lewis were appointed joint administrators of the company last month, amidst tough trading conditions for retailers and significant rent increases and business rate rises.

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Online Editors

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