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L.K. Bennett finds buyer for most of its UK stores

L.K. Bennett finds buyer for most of its UK stores
Shoppers walk past a branch of the British high-end womenswear firm L.K. Bennett in London, Britain, March 1, 2019. REUTERS/Toby Melville   -   Copyright  TOBY MELVILLE(Reuters)
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LONDON (Reuters) – The administrators of L.K. Bennett, a British womenswear retailer favoured by British royal Kate, said on Friday they had completed the sale of most of its UK stores and assets to Byland UK for an undisclosed sum.

“The sale includes the company’s headquarters, 21 stores, all of its concessions, and 325 employees, who will transfer across to the purchaser,” EY said in a statement.

“Unfortunately, the 15 stores that were not included in the sale will be closed, resulting in the redundancy of around 110 employees… The company’s international subsidiaries are also not included in the sale and will remain in administration.”

(Reporting by Alistair Smout; Editing by William Schomberg)

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