LK Bennett

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I saw the news at lunchtime that Linda Bennett was potentially calling in administrators. I know there were rumours last year about problems and it appears they were true (big losses). Personally I've never been a fan of the clothes and find them a bit frumpy and overpriced but I'm obviously sad that more people will lose jobs and we lose yet another name from the High Street.

Work wear is a real problem for me at the moment. There seem to be very few retailers which make anything with a bit of leeway for those of us who don't have perfect figures - no matter what the general trends elsewhere, work wear seems to consist of nothing but pencil skirts and dresses, skinny trousers, and mid-thigh hemlines. I, like many others, work in an office job where I'm sitting down most of the time and I don't want to expose all of my legs when I'm seated, have tight fabric digging into my waist and tummy, or have my fat arse accentuated when I'm standing up.

All of which is to say, the reason I don't really do L.K. Bennett is because they have much the same offerings as other retailers, only at 3 x the price, and without a 3 x increase in quality. I have bought stuff in their sale before but it was a long time ago and I rarely bother to go in these days.

Never understood the appeal of LKB - so much is old fashioned and frumpy and the quality of many of the materials they use is really poor.

Sky confirming LK Bennett in administration....
Sad about this. Loved their shoes, bags and tailored dresses - as PP have said, it became way too expensive though.

Aww, sad news, LKB in administration. What does this actually mean? Is it certainly a gonner for good, could they find a backer or be sold? Will all the shops be closed now or are they still open? 😢

Essentially this means LK Bennett is insolvent.

An outside administrator will look at the books with the goal to leverage the company's assets and business to repay creditors as quickly as possible.

They will also look to see if there's a viable business and if so, try to settle the debts and possibly restructure the company in a bid so it's more attractive to a buyer. However, if the LK Bennett doesn't have enough assets or their debts are too vast, it's unlikely they'll be able to settle all their debts/be attractive to a potential buyer. The recent 25% discount was probably a way to try to raise some money.

Once a business calls in the administrators it's usually the beginning of the end. However, sometimes a reversal of fortune can occur and the business can be turned around.

BBC news

I do agree that business rates and rents are playing a huge part in the slow death of bricks and mortar retail. It's scandalous that nothing is being done about this.

I've been buying shoes from LKB for nearly 20 years. I have far too many really but they are comfortable, well made and last if you look after them. Never really bought the clothes as I'm the wrong shape (short and fat) but did get a beautiful silk dress that is still in my wardrobe should I ever manage to get back to a size 12.

But I stopped buying unless they were in the sale as the prices went from around £150 full price to £200+ and nice as they are I couldn't justify it. We all blamed the Kate effect but I'm now wondering if that was actually the Private Equity owners. Thinking about it that would have been around the time it seemed to change from a shoe shop that did some clothing to a clothing shop that did some shoes.

I do like R&B shoes although they can be a bit frumpy and they seem to have stopped the collaboration with Stuart Weitzman which is a real shame.

I can see Hobbs and Phase Eight calling in the adminstrators as both seem to have sales far too frequently.

If those go as well then I have no idea where I'm going to shop.

Never been in there - I don't think they do size 18? But it is a bit worrying - all these shops closing, isn't it?

The clothes are not good but LK Bennett shoes are the best.

LK Bennett bag featured in April's Red magazine. While it's a very lovely vintage inspired basket bag, it's priced at £395. To my mind, it's this kind of pricing for this kind of product that's led to LK Bennett's current predicament.

I was only reading an article in Red magazine featuring Linda Bennett and her return to the successful business she set up.
Sad.
I loved LK Bennett.
I think a lot of companies over expand, paying huge rents.
Less shops - more exclusivity.

Over expansion and paying huge rents & business rates, that's part of the problem. I think it's when companies are bought out by investment firms that leads to over expansion as they're more interested in profits and they think more stores = more customers. But it's becoming increasingly apparent that rents and business rates are eating into any kind of profit along with rising productions cost. (It's definitely not staff costs that are changing, retail wages have hardly risen whatsoever.)

As I've said previously, the whole retail business model is broken and unless landlords and local government stop raising rents and rates, the days of bricks and mortar retail are numbered.

DeathRayStare and I wonder if they would still be going into liquidation had they sold size 18s and over. The most popular size in the UK is a size 16. Very judgmental and short sighted of them.

Thanks, Statistically - will have a look in the Broughton one!

I bet they’ll find a buyer for some of the business and it will end up smaller and more focused on the shoes.

Products are too safe and way too expensive for what they are. Went off them when the Duchess of Cambridge bought and wore their nude shoes.

StatisticallyChallenged I wasn’t meaning to patronise you but fabric price does make a difference particularly when your buying in bulk. Buyers will negotiate over 10p because if your ordering thousands of units from a supplier every penny counts. Now perhaps their clothes are overpriced, I don’t know. The quality of clothes in Topshop & Zara etc has declined over the years because they know people are price sensitive & aren’t prepared to pay more so the quality takes the hit.

Another poster made the comment about the shops all looking & selling the same. I completely agree with this & I think it’s a shame.
Years ago I felt that brands had a much stronger identity & handwriting, the Topshop girl was different to the Oasis girl who was different to the Warehouse girl etc & now every single shop has the same offer; leopard print midi anyone? There’s a lot less individuality & real lack of options.

I think all buyers are buying from the same super factories in the Far East. The basic same dress and fabric but altered slightly depending on the store purchasing. There can be no other explanation for the fact that all the stores gave basically the same stock.

user1457017537 No, that's not really how it works.

Firstly, not all brands buy from the Far East, many buy from manufacturers all over the world included Europe. Portugal is a particularly popular place to manufacture clothing.

Secondly, factories make up the clothing and while some do design too most large fashion brands have their own in house designers for clothing and often fabrics and textiles too, although some do buy fabrics directly from other sources. (Real Harris Tweed for example can only be purchased direct from Scotland). Fabrics and textiles are also purchased in bulk from specialist manufacturers and price does dictate cost. Actually, price full stop dictates everything. (An ex of mine is a Product Director of a very well known fashion brand. During his tenure I've noticed the quality of said brand drop as he's implemented changes in the supply chain and using different factories. Sadly the price has risen even though I know the brand is saving money on production costs. Ultimately, all brands want to make more money by trimming overheads.)

Also, many factories do manufacture clothing for multiple fashion brands, particularly at the lower end of the price scale. Even so, it's still really quite rare to find two brands with an identical product albeit with different brand name in it. However, a brand will offer multiple versions of the same dress, skirt, shirt, whatever in different prints/fabric/ lengths.

The reason why stores are selling similar looks is that no-one wants to take any risks and are producing safe styles that sales reports prove will sell through. Some still make a nod to what's being shown on the catwalks but given designer brands/fashion houses are playing it safe too, there's very little variety on offer. Also, fashion houses aren't as directive as they used to be. Where clothes shown on the catwalks of Milan and Paris once led the way, social media and the web has made fashion more democratic and chains such as Zara can have things inspired by a catwalk look instore within a week. Additionally, fashion is also cyclical, so trends repeat and certain looks win through. The same items of clothing (dress, skirt, trousers, blouse etc) are being reinvented every season. Except now most consumers expect a constant stream of new apparel. I think most fashion houses are expected to at least 6 if not or more collections a year, and most high street brands have new styles in stores pretty much every week. It's all these combination of factors that contribute to there being so little choice out there.

I absolutely agree with the PP who said you used to be able to tell a Warehouse girl, from a Topshop girl etc etc. The same can be said about most designer handbags, they're mostly all variations on a similar (Chanel) theme or else a very basic camera bag style shape with the brands logo across it. Fashion which used to be so very exciting is now really very bland and boring.

Super long post. Apologies.

Adding to what Stella had said, the middle to upper high street (Jigsaw, LK Bennett etc) work to much higher fixed costs compared to other types of retailers. They actually don’t pay the highest rents for shops by any means. They can’t afford it.

Plus these fixed costs means they can’t be very nimble and back out of something that’s not working with ease (hence all the CVAs). This is where the internet only brands hold sway (eg The Fold) - with only a warehouse to think of, they can react much quicker.

StellaRockafella is right & I completely agree with you that everyone is playing it safe with the result of less choice, plus it doesn’t help that these days 16 year olds dress the same as 40 year olds so it’s even more samey. The minute something becomes a trend I feel like it’s over as the market gets saturated, like the dad trainer.

I’m in my mid 30s used to work in Buying & Merch & love fashion & clothes. I have money to spend but have been really struggling to buy stuff on the high street. Either I don’t like what’s available or what I like is everywhere & I don’t want to look identikit!

Oh god, the dad trainer! I thought they were horrific the first time round in the 90s and avoided them then, so really can't believe they're back again!

Bias skirts is another revived trend that really doesn't work well with mass-market maufacturing techniques. Am gutted I didn't keep all my beautiful bias cut skirt bought from Koh Samui in the late 90s/early 00s.

Fashion is supposed to be a lot more democratic these days, and as PPS have said, there's no real difference in the way teens and 40 year olds dress. But there's very little in the shops at any price point that I want to buy.

I also agree absolutely about internet only brands having an easier time of it as they only have to a fraction of the costs as bricks & mortar retailers. I find a lot of internet only brands Hush & Sezane to name two are style over substance, and quite expensive given the fact they're making huge savings by not having an actual store presence (Yes, I'm aware Hush sometimes has a pop-up shop/sells in John Lewis and Seznne has a 'town house', but these are at very little cost.)

Stella Also many factories do manufacture clothing for multiple fashion brands etc. However a brand will offer multiple versions of the same dress, skirt, shirt whatever, in different prints, fabrics, lengths. Yes, and all the retail shops have the same clothes with minor differences and it shows! Not as rare as the buyers and merchandisers would like to think.