×
80 801
Fashion Jobs
GAP INC
sr Manager, Learning & Development (Gaptech) - Remote
Permanent · San Francisco
NIKE
Financial Analyst – Air Manufacturing Innovation (Air mi) Finance
Permanent · Beaverton
NIKE
Associate Product Line Manager, Global Sports Apparel
Permanent · Beaverton
ESTÉE LAUDER
Manager, Loyalty & Retention Marketing Smashbox
Permanent · Culver City
ESTÉE LAUDER
Manager, Trade Marketing, jo Malone London North America
Permanent · New York
ESTÉE LAUDER
Retail Beauty Sales Manager - Bobbi Brown - 35 Hrs - Northlake - Charlotte, nc
Permanent · Charlotte
ESTÉE LAUDER
Business Analyst, Mac na
Permanent · New York
MARSHALLS
lp Detective
Permanent · Santa Rosa
MARSHALLS
70118-lp Detective
Permanent · Orlando
MARSHALLS
lp Detective
Permanent · San Jose
MARSHALLS
lp Detective
Permanent · Dublin
MARSHALLS
lp Detective
Permanent · San Jose
MARSHALLS
lp Detective
Permanent · Gilroy
MARSHALLS
Loss Prevention Lead Specialist
Permanent · Redlands
TJ MAXX
Store Loss Prevention Detective
Permanent · Hickory
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Indianapolis
MACY'S
Manager, Business Administration
Permanent · Dublin
MACY'S
Asset Protection Security Guard, Boulder Twenty Ninth Street - Full Time
Permanent · Boulder
ATHLETA
General Manager - Westfarms
Permanent · West Hartford
NEIMAN MARCUS
sr Manager Group Sales Exp
Permanent · King of Prussia
NEIMAN MARCUS
Group Manager, Store Operations - Bergdorf Goodman
Permanent · New York
L'OREAL GROUP
Manager - Global Brand Supply Chain
Permanent · Clark
Published
Jul 31, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

LK Bennett creditors owed nearly £32m

Published
Jul 31, 2019

The news around LK Bennett may have gone fairly quiet since the failed company was acquired out of administration by its Chinese franchise partner Rebecca Feng, but on Wednesday it emerged that the company went into administration owing almost £32 million to its creditors.


LK Bennett owed over £30m to creditors when it went into administration


The exact figure is £31.9 million with the UK tax authorities owed £1.9 million of that.

The figures emerged in a report filed at Companies House by administrators Ernst & Young (EY), which showed the bulk of the money is owed to creditors in the UK and Ireland, with a little over £600,000 owed to creditors in mainland Europe and to those trading in US dollars.

But it’s believed that the amount available to pay unsecured creditors will be significantly under £1 million.

Preferential creditors have fared better with main lender Wells Fargo having so far received £5.4 million of the more than £9 million that it was owed earlier this year.

Major creditors include founder Linda Bennett via Cavendish Holdco Limited of which she’s a director. Cavendish is owed more than £17 million.

EY has been acting as administrator to LK Bennett since March and oversaw the sale of the brand’s UK, Ireland and wholesale ops to Byland UK (the company set up by Rebecca Feng) for £9.8 million in April. 

The company had been loss-making prior to this with an EBITDA loss of £2.5 million in the five months to the end of December.

Copyright © 2021 FashionNetwork.com All rights reserved.