Fashion retailer LK Bennett has been acquired out of administration by the owner of Poundland and Laura Ashley.

LK Bennett storefront

Source: GettyImages/iStock/Liz Leyden

LK Bennett has been acquired by Gordon Brothers from administrators Alvarez & Marsal

Restructuring and investment firm Gordon Brothers has today (January 28) acquired the global brand and related intellectual property assets from the joint administrators of LK Bennett Fashion Ltd, Alvarez & Marsal.

The US-based investment vehicle said they would continue to evaluate strategies for the business, with an emphasis on building relationships with potential partners, expanding the brand’s marketing reach and growing its portfolio of licensees and franchisees.

The firm, which also owns Laura Ashley, said it would also focus on transitioning LK Benett to a more-asset light model.

Gordon Brothers head of brands Tobias Nanda said: “LK Bennett is a beloved heritage brand with a reputation for impeccable craftsmanship and quality, and a distinctly British spirit.

“We are excited to add LK Bennett to our portfolio of brands and proud to steward the brand into the next phase of growth bringing LK Bennett’s modern luxury to both long-time followers and new customers from around the world.”

Gordon Brothers managing director, EMEA Nimit Shah added: “We are delighted to provide a solution to the administrators that both ensures value to the estate and preserves the longevity of this iconic British brand.

Senior director at A&M and one of the joint appointees John Noon said: “We are pleased to have concluded this transaction which will preserve the LK Bennett brand and its heritage of craftsmanship and quality for which it has been historically renowned.

“Our intention is to continue to trade the remaining portfolio of stores and via the concession partners for a period of up to three months”.

The brand was founded by Linda Bennett in 1990 and operated over 200 stores internationally at its peak. It now trades from nine standalone stores in the UK, with another 13 concessions listed on its website.

Bennett sold her majority stake in 2008, and the company fell into administration in 2019, after rents, business rates and new competition affected the business.

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