LK Bennett for sale

Linda Bennett, the founder of British shoe and fashion retailer, only recently announced her interest in selling part of her business so that she might concentrate on the creative aspects and there is already a bidding war for her company.

Luc Vandevelde, ex-chairman of Marks & Spencer and Jimmy Choo are both in the running to buy the company. They filed their offers before the deadline for the first bids last Wednesday, along with Hobbs and the Mosaic Group. The latter also owns Karen Millen and Whistles.

Approximately 30 companies are expected to join the bidding for LK Bennett. The company is expected to earn GBP6.7 million on sales of GBP46 million for the financial year ending 31 July. The company is valued at GBP75 million and Linda Bennett is expected to earn up to GBP70 million from the sale of her company.

www.lkbennett.co.uk