A clothing retailer popular with the Royal Family is facing administration for the second time in six years. LK Bennett filed for administration this week with the High Court to appoint an administrator.

The brand, founded in 1990, also collapsed in 2019 after owners failed to find an investor. It was bought by Rebecca Feng, a Chinese franchise partner. She promised at the time to protect the “long-standing and undoubted heritage of the brand”. Feng said: “This will be achieved through a combination of working with quality British design, and the business’s existing supply chain”. But from January 2023 to January 2024, LK Bennett lost £3.2 million and had borrowings of almost £22 million. Sales also dropped from £48.8 million in 2023 to £42.1 million in 2024. In its most recent accounts, the directors said: “Given the decline in revenue, the directors do not recommend the payment of any further dividends.” 

The auditor Grant Thornton warned of “material uncertainty related to going concern”, with the company reportedly breaching agreements with lenders. 

The deadline to renegotiate the company’s debt pile is next month, the Sun reports. The accounting group added: “It is expected that there may be a breach [of debt covenants] again. 

“Although a letter has been obtained from the bank stating their intention to continue to make all facilities available until at least 31 January 2026, no formal waiver of the covenants has been obtained.”

The company is open and trading as normal with just nine stores and 13 concessions across the UK, Ireland, and Jersey.

This comes despite the company’s high-profile fans, including the Princess of Wales. Kate has reportedly worn 85 pieces from LK Bennett to date.

According to Kate Middleton Style, the Princess has worn 19 items of clothing, one accessory, six pairs of shoes, and seven bags.