71
Fashion Jobs
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
PANDORA
Sales Assistant Pavillion
Permanent · WESTVILLE
Published
Jul 31, 2019
Download
Download the article
Print
Text size

LK Bennett creditors owed nearly £32m

Published
Jul 31, 2019

The news around LK Bennett may have gone fairly quiet since the failed company was acquired out of administration by its Chinese franchise partner Rebecca Feng, but on Wednesday it emerged that the company went into administration owing almost £32 million to its creditors.


LK Bennett owed over £30m to creditors when it went into administration


The exact figure is £31.9 million with the UK tax authorities owed £1.9 million of that.

The figures emerged in a report filed at Companies House by administrators Ernst & Young (EY), which showed the bulk of the money is owed to creditors in the UK and Ireland, with a little over £600,000 owed to creditors in mainland Europe and to those trading in US dollars.

But it’s believed that the amount available to pay unsecured creditors will be significantly under £1 million.

Preferential creditors have fared better with main lender Wells Fargo having so far received £5.4 million of the more than £9 million that it was owed earlier this year.

Major creditors include founder Linda Bennett via Cavendish Holdco Limited of which she’s a director. Cavendish is owed more than £17 million.

EY has been acting as administrator to LK Bennett since March and oversaw the sale of the brand’s UK, Ireland and wholesale ops to Byland UK (the company set up by Rebecca Feng) for £9.8 million in April. 

The company had been loss-making prior to this with an EBITDA loss of £2.5 million in the five months to the end of December.

Copyright © 2024 FashionNetwork.com All rights reserved.