L.K. Bennett, one of the favourite fashion retailers of British royal Kate, Duchess of Cambridge, entered administration on Thursday, putting around 500 jobs at risk in the latest business failure…
LK Bennett also failed to embrace a sense of uniqueness and creativity as its products resembled fellow retailers Reiss and Hobbs, and were also pricier. David Gore, head of retail at IT service …
LK Bennett had 200 stores and branded concessions, the company said before it went into administration. As the retailer’s financial troubles mounted, its latest styles were still being praised.
The failure is the latest in a string of mid-market women’s fashion labels to buckle under the pressure of dwindling high street sales. … which stocks the LK Bennett brand, went into …
Bennett’s failure to recover was due to systematic as well as company-specific issues that saw rising costs, increased leverage, and decreased profitability. These issues included: A perceived high price point for its products and increasing competition from lower or similarly-priced rivals.
LK Bennett – a brand favoured by the Duchess of Cambridge – has collapsed into administration, putting around 500 jobs at risk.
