Editor’s Note
L.K.Bennett, the mid-range high street brand favored by Princess Catherine, has entered bankruptcy proceedings. Founder Linda Bennett informed staff via email on March 1, thanking them for their dedication while announcing that audit firm Ernst & Young has been brought in to assess next steps. The move follows reported financial struggles.
Princess Catherine’s favorite mid-range high street brand L.K.Bennett has entered bankruptcy proceedings. Founder Linda Bennett informed staff of her decision via email on the morning of March 1, giving them “advance notice.”
She expressed gratitude to employees for their “dedication, hard work, and long-term support,” but also informed them that she had asked audit firm Ernst & Young to help “determine the best course of action at this stage.” According to The Guardian, she struggled to find new financial backers and resorted to appointing the audit firm, putting 480 jobs at risk.
According to the latest financial report filed with the company registry, the brand recorded an operating loss of £5.9 million (approximately ¥870 million) for the year ending July 29, 2017. L.K.Bennett was originally founded by Linda Bennett in 1990 to offer “something between designer shoes on Bond Street and high street.” Bennett sold 70% of her shares in 2008 but returned to the brand in April 2017.
The brand, known for its kitten heels, became highly famous after Princess Catherine wore nude court shoes on numerous occasions, leading to a surge in sales. That style became a signature for the Princess, who has repeatedly worn not only the shoes but also feminine dresses from the brand for official engagements over the years.
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Translation: Mitsuko Kanno From Harper’s BAZAAR UK
