The news marks just the latest high street retailer to disappear from our high street recently.
All of the luxury firm is the latest UK chain to collapse into administration (Image: Getty Images )
It’s been a turbulent start to 2026 for the Scottish high street. Multiple retailers have been struggling to stay afloat, with some collapsing completely.
The latest is luxury fashion brand L.K. Bennett that was recently saved from collapse by the Gordon Brothers, the firm behind Poundland’s massive restructuring plan. However, the move means it could disappear completely from the high street.
It comes just weeks after we reported that the struggling high street chain had filed to appoint administrators with the High Court in December 2025. At the time, Next was reportedly said to swoop in with a rescue deal.
However, the former owners of Laura Ashley purchased the L.K. Bennett brand and its intellectual property on Thursday, January 28. Nevertheless, this did not include physical shops, meaning hundreds of employees could lose their jobs.
The British retailer currently operates nine standalone stores and 13 concessions, with one based in the John Lewis located in Edinburgh’s St. James Quarter, all of which are at risk of closure following the news.
LK Bennett was founded in 1990 and operates 9 standalone UK stores (Image: Getty Images )
According to Drapers, L.K. Bennett currently employs 145 workers across the UK and Ireland. 89 of them are currently facing redundancy as the firm’s stores are reported to operate for a maximum of three months before closing by spring.
A statement on the L.K Bennett website reads: “John Noon and Mark Firmin of Alvarez & Marsal Europe LLP were appointed Joint Administrators of LK Bennett Fashion Limited (registration number: 11903831) on 27 January 2026 pursuant to paragraph 22 of Schedule B1 to the Insolvency Act 1986.
“Immediately following their appointment, the LK Bennett brand and related intellectual property was sold to LKB IP Holdings, LLC (a Gordon Brothers affiliated entity). The LK Bennett stores were not included in the transaction and continue to trade under the Administration. Online sales via the LK Bennett website continue for the foreseeable future.”
As of writing, further details regarding the closure of the retailer’s stores have not yet been confirmed. It is also unknown whether its 56 head office workers will stay at the business following its acquisition.
Speaking to Drapers, Alvarez & Marsal joint administrator and senior director John Noon said: “Our intention is to continue to trade the remaining portfolio of stores and via the concession partners for a period of up to three months.
“We are pleased to have concluded this transaction which will preserve the LK Bennett brand and its heritage of craftmanship and quality for which it has been historically renowned.”
Founded in 1990 by Linda Bennett who opened the first store in Wimbledon, South West London, L.K. Bennett became popular for its ready-to-wear collections incorporating clothing, shoes, handbags and accessories, with reports suggesting the Princess of Wales is a fan.
However, it has struggled with declining sales, with its first brush with insolvency back in 2019. The fashion firm is said to have reported a pre-tax loss of £3.5m on turnover of £42.1m for the period that ended January 27, 2024, a steep decline from £48.8m in 2023.
Its purchase from the Gordon Brothers is just the latest for the investment firm after it bought over fellow struggling high street brand Poundland last year. The sale, which was worth just £1, has included sweeping closures, although its Coatbridge store was recently saved following rent negotiations.
In other high street-related news L.K. Bennett is not the only retailer to struggle recently, as Quiz Clothing is reportedly seeking fresh funding after closing 23 stores last year. Meanwhile, The Original Factory Shop and Claire’s Accessories have also filed for administration last month.
Meanwhile, Next recently purchased footwear firm Russell & Bromley in a rescue deal reportedly worth £2.5 million, although the sale only included three physical stores, leaving 32 at risk, with its Edinburgh and Glasgow at risk of closing.
The Daily Record has approached L.K. Bennett for a comment.