A Chinese firm which supplies LK Bennett has joined the race to buy the fashion retailer from administrators.

Byland UK has been set up in the hope of acquiring the business after it went in to administration earlier this month.

The two directors of the newly incorporated Byland UK are Feng Kangjie and Zhou Cuiqing whose company is said to be a supplier to LK Bennett, Sky News has reported.

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

Administrators at EY were expected to finalise a deal before the last-minute bid came in from Byland UK.

Footwear retailer Dune made an offer earlier this week but one source told Sky that Byland UK has swooped in with a much higher offer.

Around 500 jobs are at risk if LK Bennett fails to secure a buyer. The fashion retailer has already made 55 redundancies and closed five stores including in Sheffield’s Meadowhall shopping centre, Bristol, Liverpool, and Brent Cross and Westbourne Grove in London.