Next reportedly mulling LK Bennett rescue bid

British retail giant Next is said to be among the parties eyeing a rescue bid for ailing fashion brand LK Bennett.

According to sources for Sky News, Next is reportedly mulling a “cut-price offer” for LK Bennett and other intellectual property assets as the brand readies itself for administrator intervention.

LK Bennett’s small estate of retail outlets is believed to not be among the interests of Next.

Sky News said that Next is potentially up against Marks & Spencer and White Stuff owner TFG London in the race for LK Bennett.

Taking over the brand would align with Next’s wider strategy of acquiring struggling retailers. The company has previously rescued Seraphine and Cath Kidston from the clutches of administration.

LK Bennett had filed a notice to appoint administrators last week confirming prior speculation that it was eyeing a restructuring procedure and was urgently seeking a buyer.

Should a deal fail to materialise, a possible insolvency is said to be on the cards for what would be the second time in six years.

FashionUnited has contacted Next with a request to comment.