LK Bennett’s US arm files for bankruptcy & mulls store closures

ELIAS JAHSHAN | April 9, 2019

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LK Bennett’s US stores and online operation are at risk after the fashion retailer filed for Chapter 11 bankruptcy protection in the country last week.According to the Wall Street Journal, the US arm of the British fashion retailer is now seeking permission from the bankruptcy court to begin closing down sales in order to liquidate its stock.LK Bennett was forced to file for Chapter 11 bankruptcy protection last week after revenues had been below expectations and its losses had widened. The news comes as LK Bennett continues to field expressions of interest from potential new buyers at home in the UK, where the business fell into administration last month. The Wall Street Journal said LK Bennett’s court filing indicated that its US-based stores and online operation would close “unless and until there is interest expressed in the purchase of the debtor or its assets in connection with” the UK proceedings.

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