Byland UK, set up by Rebecca Feng, who runs the firm’s Chinese franchises, recently bought high-end fashion chain LK Bennett from a court-appointed administrator, saving 325 jobs. The sale includes the company headquarters, 21 stores and all its concessions. Fifteen stores are, however, not included in the deal and will close, leading to the loss of 110 jobs.
The amount paid has not been disclosed, according to British media reports.Byland UK, set up by Rebecca Feng, who runs the firm's Chinese franchises, recently bought high-end fashion chain LK Bennett from a court-appointed administrator, saving 325 jobs.The sale includes the company headquarters, 21 stores and all its concessions. Fifteen stores are, however, not included in the deal and will close, leading to the loss of 110 jobs.#
Business will continue to operate out of the United Kingdom through a combination of working with quality British design and the business's existing supply chain, said Feng.
The UK stores that will now close include the ones in Bath, Belfast, Birmingham, Bridgewater, Banbridge City, Glasgow, Gloucester, St Albans, Westgate Oxford, York, York Outlet, and several in in London.
The administrators said the company's international subsidiaries were also not included in the sale and would remain in administration. LK Bennett was founded by Linda Bennett in 1990. (DS)
Fibre2Fashion News Desk – India
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