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Next weighs bid for LK Bennett brand assets
Yahoo Finance· 2026-01-05 15:15
Core Viewpoint - British fashion retailer Next is considering a low-cost acquisition of the struggling womenswear brand LK Bennett, which is nearing the appointment of administrators [1][3]. Group 1: Acquisition Interest - Next is one of several interested parties evaluating a potential acquisition of LK Bennett, although it is not expected to include the brand's remaining physical store network [1][2]. - Other potential bidders mentioned include Marks & Spencer and TFG London, although Marks & Spencer has stated it is not looking to acquire LK Bennett [2]. Group 2: Financial Performance - LK Bennett reported a post-tax loss of £3.5 million ($4.7 million) for the year ending January 27, 2024, on a turnover of £42.1 million, down from revenues of £48.8 million the previous year [5]. Group 3: Brand History and Current Status - Founded in 1990 by Linda Bennett, LK Bennett once operated nearly 200 stores globally but has now reduced its UK presence to nine standalone shops and 13 online concessions [4]. - The brand's ownership is held by Byland UK, established in 2019 to rescue LK Bennett from prior insolvency [4].