Dune makes bid for LK Bennett

Footwear retailer Dune is reportedly among a handful of parties to have made final bids for LK Bennett this week.

According to Sky News, the privately held Dune Group lodged a final bid for LK Bennett with administrators at EY this week after the struggling retailer fell into administration earlier this month. It is not known how much Dune has offered nor who the other bidders are. Retail industry sources told Sky that the chain’s administrator EY is currently assessing offers and is expected to choose a buyer within days.

Dune is known for selling its own brands such as Head Over Heels, as well as third-party brands such as Ted Baker and Skecher. For the year to 27 January 2018, the privately-held company made a pre-tax profit of 4.7 million pounds. After opening its first store on London’s Kings Road in 1993, the brand has expanded its presence to over 250 outlets across the world.

Earlier in March, LK Bennett fell into administration, resulting in 55 redundancies and five store closures. Last year, the brand reported an operating loss of 5.9 million pounds for the financial year ending 29 July.

Photo credit: LK Bennett, Facebook