London, U.K. - Leading global professional services firm Alvarez & Marsal (A&M's) Manchester office has advised Byland U.K. on its acquisition of L.K Bennett Ltd.

Byland U.K., a newly incorporated U.K. limited company, has completed the purchase of certain business interests and assets of L.K. Bennett Ltd in both the U.K. and Ireland from its Administrators.

It was also advised by a cross disciplinary team from law firm Womble Bond Dickinson. Byland U.K. has been incorporated specifically for the acquisition of the U.K. business of L.K. Bennett. The Company is owned by a Chinese franchise partner to the existing L.K. Bennett business.

L.K. Bennett’s Head Office, website, concessions, and a substantial number of stores will remain open following the sale. However, several stores will close with immediate effect, which will unfortunately involve a number of unavoidable redundancies. As part of the transaction all gift cards, refunds, and orders will be honoured.

Rebecca Feng, Director of Byland U.K., said: “The L.K. Bennett brand is synonymous with quality and we believe there is a real opportunity to expand its reach in overseas markets where significant untapped potential exists. Under our plan, the business will continue to operate out of the U.K., looking to maintain the long-standing and undoubted heritage of the Brand. This will be achieved through a combination of working with quality British design, and the business’s existing supply chain.

 “We would like to take this opportunity to thank all L.K. Bennett’s customers, employees, and other key stakeholders for their support during the period of uncertainty which followed the appointment of Administrators. We look forward to welcoming many more customers in the years ahead.”

Mark Firmin, Managing Director and Head of U.K. Regional Restructuring at Alvarez & Marsal, said “Rebecca Feng and her team have worked with L.K. Bennett for many years and they know the business implicitly. What’s more, as the brand’s sole distributor in China, Rebecca understands how to grow L.K. Bennett internationally. We’re proud to have supported Byland U.K. in their efforts to secure a bright future for an iconic British brand.”

Both the former CEO and finance director, Darren Topp and Andrew Ellis, have been working with Byland U.K., providing operational and financial support. Both will remain post-deal in ensuring the business is a success.

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Compnies, investors and government entities around the world turn to Alvarez & Marsal (A&M) when conventional approaches are not enough to make change and achieve results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services.

With over 3,500 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, help organizations transform operations, catapult growth and accelerate results through decisive action. Comprised of experienced operators, world-class consultants, former regulators and industry authorities, A&M leverages its restructuring heritage to turn change into a strategic business asset, manage risk and unlock value at every stage of growth.

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Contact

Del Jones, Harriet Smith, Headland Consultancy PR, +44 (0)20 3805 4860

Miriam Jones, Marketing Manager, Alvarez & Marsal, +44 (0)20 7072 3204