LK Bennett, a favourite of Kate Middleton, is to file for administration putting 500 jobs at risk
HIGH STREET fashion retailer LK Bennett, which is a favourite of Kate Middleton, has confirmed plans to go into administration.
LK Bennett has 41 stores across the UK, including eight outlets, as well as 54 department store concessions.
The retailer employs just under 500 staff, which means their jobs could be at risk if the firms go under.
Kate Middleton, the Duchess of Cambridge, is a fan of the brand and is often pictured wearings its dresses, shoes and handbags.
Earlier this month she was snapped wearing a pair of £300 LK Bennett boots.
Accountacy firm Ernst & Young says it is expected to become the administrator for the upmarket women’s fashion brand.
Neither Ernst & Young or LK Bennett would comment on the news or what will happen next when asked by The Sun.
When retailers go into administration they tend to stay open while a buyer is sought.
For now, all of LK Bennett’s stores are trading as normal while its website remains active.
The retailer has confirmed that shoppers’ rights remain as usual, but if you’ve bought something recently that you were planning to return you may want to do so sooner rather than later.
Likewise, it may be wise to redeem any LK Bennett gift cards as soon as possible to ensure you don’t lose out if the firm stops trading.
In this scenario, people owed money typically have to file as a creditor with no guarantee they’ll get their cash back.
Brutal conditions saw 150,000 job cuts on the high street last year, and even more losses are on the horizon for this year.
Only today it was revealed that Gap is closing more than 200 stores worldwide amid plunging sales in a bid to save the chain.
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