A HIGH street fashion brand loved by Kate Middleton is on the brink of administration for the second time in six years.
LK Bennett, the posh retailer known for its tweed designs and classy frocks, submitted a notice at the High Court, according to court filings.
It suggests the company could collapse into administration if the move is approved by the courts.
However, the company, which has nine standalone stores and 13 in-store concessions, remains open and trading as normal.
In the run-up to Christmas, the pricey brand, which also counts former Prime Minister Theresa May as a fan, was racing to find a buyer.
At the time, Sky News said the company was working with City advisers to explore an “accelerated sale”.
It said LK Bennett has drafted in experts from Alvarez & Marsal (A&M) to help secure the business‘s future.
The retailer has been navigating a tough financial landscape.
Accounts for the year ending January 2024 revealed a post-tax loss of £3.5million.
Sales have also dipped, dropping from £48.8million in 2023 to £42.1million in 2024.
LK Bennett paid a £229,000 dividend early in the year, when trading was strong.
However, in its most recent accounts, the directors stated: “Given the decline in revenue, the directors do not recommend the payment of any further dividends.”
And it is not the first time the brand has fallen on hard times.
Six years ago the chain was rescued from administration in 2019 by Chinese franchise partner, Rebecca Feng.
At the time of the rescue, Ms Feng vowed to protect the “undoubted heritage of the brand.”
The Sun has approached LK Bennett for comment.
