Luxury fashion and footwear chain LK Bennett, a beloved brand of Kate Middleton and former Prime Minister Theresa May, petitioned the U.K. High Court on Tuesday for appointment of an administrator. The application, if approved, would mark the brand’s second administration in six years and likely make it the first major retail casualty of 2026. Approximately 275 jobs are at risk, with nine U.K. stores potentially closing.
Working with Advisory Firm to Secure Buyer
The company has been collaborating with consulting firm Alvarez & Marsal in its search for a potential buyer. A court decision is expected within days. LK Bennett previously entered administration in 2019 after failing to secure investor backing, when accounting firm EY took over as administrator. The brand was subsequently rescued by Byland U.K., formed by Rebecca Feng, who operated the chain’s Chinese franchises and outbid competitors including Frasers Group and Marks & Spencer.
Challenging Retail Environment Threatens Recovery
Since its rescue, LK Bennett has experienced revitalization under CEO Darren Topp, who expanded the brand into the U.S. market via a digital-first strategy in 2023. However, current economic pressures have created an increasingly difficult retail landscape. U.K. retailers face substantial business rate taxes and persistent inflationary pressures affecting consumer spending. Helen Dickinson, CEO of the British Retail Consortium, reported that consumer confidence remains “gloomy,” with retail spending expectations declining for the third consecutive month. Founded by Linda Bennett in 1990, the brand achieved fame when Queen Camilla wore LK Bennett shoes at her 2005 wedding to King Charles.