Feng takes LK Bennett
Rebecca Feng who operated LK Bennett's Chinese franchises has acquired the fashion brand via a new company Byland UK. This beings to an end the attempts by founder Linda Bennett, as well as from retail groups including Dune London, Spectre Holdings and others, to buy the business out of administration.
The sale to Byland UK includes the head office and 21 stores and concessions. Around 110 staff are now redundant as a result of the deal. Ms Feng commented: "Under our plan, the business will continue to operate out of the UK looking to maintain the long-standing and undoubted heritage of the brand. This will be achieved through a combination of working with quality British design, and the business' existing supply chain."
LK Bennett's former CEO, Darren Topp and former finance director Andrew Ellis who each worked with Ms Feng on the deal will continue to assist the business going forward.