500 jobs at risk as LK Bennett lines up administrator

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LK Bennett administration
// 500 jobs at risk as LK Bennett prepares to call in administrators
// Accountancy firm EY will manage the insolvency if no new investment can be found

Around 500 jobs are reportedly at risk as LK Bennett prepares to call in administrators.

Accountancy firm EY is poised to manage the insolvency if no new investment can be found in the next few days to save it, Sky News reports.

The upmarket fashion retailer, founded by Linda Bennett in 1990, recently drafted in advisers to examine options for the chain nearly 18 months after regaining full control of the business.

Bennett sold her majority stake in the chain to private equity firm Phoenix Equity Partners in 2008.

However, in 2017 she returned as owner of the business as retailer began to struggle.

LK Bennett made an operating loss of £5.9 million in the year to the end of July 2017.

The retailer currently operates 200 branded outlets in the UK and overseas markets including China, Russia and the US.

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