AS many as 25 retail jobs in the north could be at risk at troubled women's fashion retailer LK Bennett.
The brand is expected to appoint administrators at Ernst & Young if it cannot find a new backer in the next few days, putting up to 500 UK jobs at risk.
The retailer operates two stores in Northern Ireland at Belfast's Victoria Square and The Boulevard in Banbridge.
Staff were informed of the news yesterday in an email from LK Bennett founder, Linda Bennett.
Ms Bennett stepped back from the brand in 2008, but returned in 2017 as a consultant.
Later that year she bought back the controlling stake previously held by Phoenix Equity Partners.
According to the most recent available accounts for the company, Ms Bennett invested £11.2 million into the group upon her return to ownership.
They showed a loss before tax of £47.9m for the year to July 29 2017.
It emerged last month the company had hired advisers to look at options for the business, including fresh investment or a full sale.
But the company will now be put into the hands of administrators, throwing the future of 41 stores and at least 480 employees into doubt.
Known for its signature kitten heels and smart daywear, the brand has attracted celebrity fans including the Duchess of Cambridge over its near 30-year history.
The Duchess was pictured wearing the brand's boots on a two-day visit to the north earlier this week.
LK Bennett is the latest in a string of mid-market women's fashion labels to buckle under the pressure of dwindling high street sales.
Last year, Irish designer Orla Kiely closed five retail stores as the fashion brand went into liquidation.
Meanwhile, department store House of Fraser, which stocks the LK Bennett brand, went into administration last year before being bought out by Sports Direct tycoon Mike Ashley.
2018 was a particularly difficult year for the UK retail sector, with the likes of Toys R' Us, Poundworld and Maplin all disappearing from the high street, while established Homebase, Mothercare, New Look and Carpetright were forced to agree restructuring deals with their landlords, closing hundreds of stores.
Linda Bennett set up the first LK Bennett shop in Wimbledon Village in 1990 and in three decades the business has expanded with outlets in Europe, the United States and the United Arab Emirates. The brand is also stocked in high-profile retail chains such as John Lewis, Harvey Nichols and Selfridges.
