LK Bennett mulls possible sale as it calls in advisers

2905
LK Bennett sale
// LK Bennett drafts in advisers from AlixPartners for strategic review
// Review possibly lead to a sale at the end of the year
// Comes after LK Bennett recorded a loss of £5.9m last year

LK Bennett has reportedly drafted in advisers to consider options that could involve a sale, almost 18 months after its founder regained full control of the retailer.

According to Sky News, Linda Bennett has appointed AlixPartners to undergo a strategic review of the fashion retailer she founded in 1990, with the possibility of a sale later this year.

The news comes after LK Bennett recorded an operating loss of £5.9 million for the financial year ending July 29.

Should the strategic review lead to a sale of the retailer, it wouldn’t be the first time Bennett herself has brought in third-party investors.

In 2008, she sold a controlling stake to a consortium led by Phoenix Equity Partners in a deal that was valued at around £100 million at the time.

LK Bennett had been put up for sale the previous year.

However, the upmarket fashion chain has since endured several difficult trading periods.

In September 2017, Bennett bought 45 per cent of equity in the firm that she did not already own from Phoenix Equity Partners for an undisclosed sum.

The deal effectively returned LK Bennett to her ownership.

LK Bennett trades from 200 stores in the UK and overseas.

Click here to sign up to Retail Gazette’s free daily email newsletter