The company is reportedly preparing to launch its CVA proposals, which will see five stores permanently close.
Despite the retailers best efforts, sales at their stores still continue to struggle and they are not expected to fully bounce back until mid-2021. As the retailer hopes to reach an agreement with its creditors, it is expected that some job losses will take place.
LK Bennett currently employs 400 people, with 300 of these currently in retail roles. It operates 18 standalone store locations, under the CVA proposals, five of these would be permanently shuttered with the remaining locations switching to turnover-based rents. The retailer has said that the proposals would result in a small number of redundancies.
LK Bennett is being advised on its restructuring by Alvarez & Marsal.
