LK Bennett, which was founded in the 90’s by Linda Bennett, has called in administrators after sales have slowly declined due to tough trading conditions.
The high street chain had 39 shops all around the UK with 500 staff, 55 of which have been laid off following the closure of 5 stores. Stores which have been closed are: Sheffield, Bristol, Liverpool and two in London.
Administrators say that LK Bennett had been ‘impacted by significant rent increases and business rate rises’. They then added ‘Linda and the management team therefore made the difficult decision to place the company into administration, to protect the future of the business’.
Trading at the shops which are still open will continue as usual until otherwise stated, although sales online have been stopped for the time being.
For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or to take advantage of our free consultation, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.