The struggling British fashion brand LK Bennett has been bought out of administration by US restructuring specialist Gordon Brothers, raising the prospect that its remaining nine UK shops could close with the loss of around 380 jobs.
Gordon Brothers, which acquired Poundland for £1 last year, confirmed it has purchased LK Bennett’s global brand and intellectual property assets for an undisclosed sum after the retailer collapsed for the second time in six years.
The Boston-based firm said the womenswear label would move to an “asset-light” model, fuelling speculation that LK Bennett could become an online-only business. The future of its physical estate and workforce remains uncertain.
Tobias Nanda, head of brands at Gordon Brothers, said LK Bennett remained a “beloved heritage brand” with strong international appeal.
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