Overview
- John Noon and Mark Firmin of Alvarez & Marsal were appointed joint administrators on 27 January and immediately sold the brand and intellectual property to LKB IP Holdings, a Gordon Brothers affiliate.
- The sale excluded the physical estate, leaving nine standalone stores and 13 concessions trading under administration for up to three months with potential closures by spring if no further deal emerges.
- LK Bennett employs 145 people across the UK and Ireland, with around 89 retail roles at risk and the future of 56 head office staff uncertain.
- Online sales via the LK Bennett website continue for the foreseeable future under the new IP owner.
- Grant Thornton previously warned of material uncertainty over going concern and reported covenant breaches, underscoring the retailer’s financial strain.