Business Irish

Monday 23 September 2019

Saved: Irish stores bought in rescue of luxury retailer

LK Bennett, the UK's "affordable luxury" fashion brand whose fans famously include Kate Middleton, has been bought out of administration by its Chinese franchise partner.

Administrators from EY said they had completed the sale of most of its stores in the UK and Ireland to Byland UK.

Its two stores in the Republic - in Dundrum Town Centre and Kildare Village - along with six concessions here were bought as part of the deal. Two stores in Northern Ireland were not included and will close, as will 13 outlets in Britain.

The Byland sale includes the company's headquarters, 21 stores, all of its concessions, and 325 employees. The business went into administration on March 7.

The company's arms in the US and mainland Europe were not included in the sale and remain on the market.

Irish Independent

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