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LK Bennett bought but 15 stores to close

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High-end fashion chain LK Bennett has been bought out of administration, saving 325 jobs.However, 15 of the retailer's stores are not included in the deal and will close, leading to the loss of 110 jobs.LK Bennett has been bought by Byland UK which was set up by Rebecca Feng, who runs the company's Chinese franchises.The sale includes the company's headquarters, 21 stores and all of its concessions. The amount paid has not been disclosed.Ms Feng said: "Under our plan, the business will continue to operate out of the UK, looking to maintain the long-standing and undoubted heritage of the brand.
"This will be achieved through a combination of working with quality British design, and the business's existing supply chain."The UK stores not included in the sale and which will now close are:
Bath
Belfast
Birmingham
Bridgewater, Banbridge
City, Royal Exchange, London
Glasgow
Gloucester
King's Road, London
Knightsbridge, London
Long Acre, London
Northcote Road, London
St Albans
Westgate Oxford
York
York Outlet
The administrators said the company's international subsidiaries were also not included in the sale and would remain in administration. LK Bennett was founded by Linda Bennett in 1990, and counts the Duchess of Cambridge as a customer.Ms Bennett sold her majority stake in the chain to private equity firm Phoenix Equity Partners in 2008, but in 2017 returned to advise the business after the retailer started to struggle. She bought the company back a short time later.The chain reported an operating loss of nearly "These are difficult and unstable times, and we are doing everything we can to identify the best way forward," she had said.
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