British retail giant Next Plc is said to be among those considering a rescue bid for struggling fashion brand LK Bennett.
Media outlet Sky News reported that, according to unnamed sources, Next was considering a “favorable offer” for LK Bennett and certain intellectual properties. LK Bennett’s small branch network should not be of interest to Next. According to the report, the brand is currently preparing for bankruptcy proceedings.
Next will potentially face Marks & Spencer and TFG London, the owner of White Stuff, in the race for LK Bennett, Sky News says.
A takeover of the brand would fit with Next’s general strategy of taking over struggling trading companies. The company has already saved Seraphine and Cath Kidston from bankruptcy.
LK Bennett filed for insolvency administration last week, confirming earlier speculation about restructuring proceedings. The company had previously looked for possible takeover buyers. If no agreement is reached, there is a risk of possible bankruptcy. It would be the second in six years.
FashionUnited has contacted Next for comment.
This article was created using digital tools translated.
FashionUnited uses artificial intelligence to speed up the translation of articles and improve the end result. They help us to make FashionUnited’s international reporting quickly and comprehensively accessible to a German-speaking readership. Articles translated using AI-based tools are proofread and carefully edited by our editors before they are published. If you have any questions or comments, please email [email protected]