LK Bennett may close after sale left shops outside rescue

Gordon Brothers bought LK Bennett’s intellectual property but did not acquire its retail outlets; Drapers reports the brand’s 13 concessions and nine stores, which employ 89 people, are expected to trade for up to three months while their longer-term fate remains unclear.

LK Bennett, a British fashion label known for kitten heels and for dressing the Princess of Wales, was sold in a deal that secured its intellectual property. The buyer was Gordon Brothers. The transaction did not include the brand’s retail outlets. Reports say the company’s concessions and stores employ 89 people and may continue trading for a limited period. Key facts: - Gordon Brothers acquired LK Bennett’s intellectual property in the reported deal. - The sale did not include the brand’s retail outlets or concessions. - The business operates about 13 concessions and nine stores and employs 89 staff, according to reports. - Drapers reported the shops will continue trading for "up to three months." - The long-term status of the physical stores and staffing beyond that period is unclear. Summary: Officials reported that Gordon Brothers bought the brand’s intellectual property but did not take on the retail estate. Shops are reported to have funding to trade for up to three months; what happens after that is undetermined.