LK Bennett, the mid-range high street brand favoured by the Duchess of Cambridge, is expected to enter administration. Company founder Linda Bennett emailed staff this morning, 1 March, to inform them of her intention "before it happened".
She thanked her employees for "dedication, hard work and continued support", but said advisory firm Ernst and Young had been enlisted to help "decide the best way through this". Bennett has struggled to find a new financial backer, reports the Guardian, prompting her decision to appoint administrators putting 480 jobs at risk.
The most recent accounts filed at Companies House show that the brand made an operating loss of £5.9million in the year to 29 July 2017. LK Bennett was originally founded by Linda Bennett in 1990 with the aim of offering "something in-between the designer footwear you find in Bond Street and those on the high street". Bennett sold a 70 per cent stake in the business in 2008, but rejoined the label in April 2017.
The brand, known for its kitten heels, became very popular with the Duchess of Cambridge who prompted a spike in sales of its nude court shoes after wearing them on numerous occasions. The style became a signature of the royal, who has also worn LK Bennett's feminine dresses to multiple royal appointments over the years.
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