NEXT plc (LSE:NXT) is weighing a low-ball bid for LK Bennett (L.K. Bennett Fashion Limited), the upmarket womenswear and footwear brand whose owners are exploring rescue options amid deepening financial distress. The FTSE 100 retailer is assessing whether the LK Bennett brand could be added to its growing stable of acquired fashion names. Any deal would be expected to focus on the brand and digital operations rather than LK Bennett's remaining physical store estate, according to Sky News, which first reported Next's interest.
Sources familiar with the situation cautioned that Next could well be outbid by other suitors prepared to pay a higher price for the brand, whose high-profile customers include the Princess of Wales. LK Bennett, known for its tailored dresses and court shoes, has been struggling with falling sales and rising costs.
