LK Bennett’s Chinese supplier eyes takeover

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LK Bennett
// LK Bennett’s Chinese franchise partner Byland UK eyes up retailer
// Byland UK approached former LK Bennett directors to assist with the offer
// Administrators EY were expected to make a deal before the last-minute offer came in

LK Bennett’s Chinese franchise partner Byland UK has made an offer on the retailer after it collapsed into administration earlier this month.

Byland UK directors Feng Kangjie and Zhou Cuiqing have entered the race in buying LK Bennett out of administration in a bid to retain its workforce, Sky News reports.

A source told Sky News that Byland UK had approached former LK Bennett chief executive Darren Topp and former finance director Andrew Ellis to assist with the offer.

LK Bennett’s administrators EY were expected to make a deal before the last-minute offer came in from Byland UK.

Earlier this week, it was revealed that footwear retailer Dune made an offer on the fashion retailer, though Byland UK stepped in with a larger offer.

Sports Direct owner Mike Ashley has also been linked with LK Bennett’s administration, after he reportedly put forward an initial offer earlier this month to buy it out of administration.

Currently 500 jobs are at threat as LK Bennett has not yet secured a buyer.

LK Bennett’s international stores and operations are not part of the administration process.

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