LK Bennett founder Linda Bennett has said that she hopes that the new owners of the fashion brand will take it on to the international stage.
Bennett claimed in an interview with The Times that there has been “considerable interest” in the retailer since putting it up for sale for a figure understood to be about£150 million.
The sales documents were issued last week and sources close to the company reportedly said that Middle Eastern and American buyers were among those most interested.
Results to be filed at Companies House this week will show that pre-tax profits across the group’s 76 stores rose five-fold to£8.6 million in the year to July 28. Total sales rose almost 14 per cent to£45.4 million.
Bennett has blamed, in part, the Chancellor’s proposed increase in capital gains tax for her decision to put the fashion business up for sale and wants a deal to be concluded by March, before the new tax rate of 18 per cent comes in to effect.
It is expected that Bennett will stand down from the everyday running of the business when a buyer has been found.
A previous auction was dropped three years ago when bids failed to meet a rumoured£75 million asking price.
No comments yet