Up-to-date coverage of the latest events in UK retail.

Day pulls out of LK Bennett bid

Philip Day has pulled out of the running to buy LK Bennett.

Day withdrew his interest in rescuing the business from administration last night, according to The Telegraph.

The move has left Dune, Sports Direct’s Mike Ashley and franchisee Rebecca Fang left battling to save the chain from administration.

LK Bennett drafted in EY to handle the process last month.

Intu lines up Buffin as boss

Shopping centre landlord Intu is lining up former Travis Perkins executive Tony Buffin as its next boss, according to The Sunday Times.

Buffin, who left Travis Perkins in February after missing out on the chief executive’s position, would represent a left-field choice having had little experience of buying or managing shopping centres.

Intu, which owns a raft of malls including Manchester’s Trafford Centre and Lakeside in Essex, is seeking a new boss to succeed the outgoing David Fischel.

The new chief executive will need to slash the property giant’s £4.9bn debt pile and rebuild its ailing share price, which has slumped after two takeover bids from Hammerson and a consortium led by John Whittaker both collapsed.