Royal favourite LK Bennett on brink of collapse

Core Viewpoint - The future of LK Bennett, a high-end fashion retailer, is uncertain as it has filed an intention to appoint administrators for the second time in six years, indicating a potential collapse into administration if the court grants the application [1][2]. Company Overview - LK Bennett is known for its association with the Princess of Wales, who has worn its dresses and shoes at various royal engagements [3]. - The company employs nearly 300 staff and is owned by Byland UK, a group with Chinese ownership [3]. Financial Performance - In its most recent accounts, LK Bennett reported post-tax losses of £3.5 million and a sales decline of nearly £50 million compared to the previous year [8]. - The company has nine standalone stores and 13 in-store concessions across the UK, Ireland, and Jersey [8]. Historical Context - LK Bennett previously collapsed into administration in 2019 due to a lack of funding amid rising business rates, leading to the closure of five stores and subsequent redundancies [5]. - The company was saved by Byland UK, which acquired it out of administration after its previous owners failed to secure fresh funding [6][7]. Recent Developments - The retailer was attempting to secure a last-minute rescue deal following a downturn in trading just days before the recent court filing [3]. - Prior to the announcement, LK Bennett was working with advisers at Alvarez & Marsal on an accelerated sales process in anticipation of the Christmas season [7].