LK Bennett, the British fashion brand once synonymous with polished womenswear and favoured by high-profile figures, is working with advisers on an accelerated sale process as it seeks a buyer, Sky News has reported.

The move comes after years of financial pressure and declining sales that have eroded the retailer’s profitability and market position.

The company’s difficulties have been apparent for some time.

In its most recent accounts, LK Bennett posted a pre-tax loss of approximately £3.1 million with revenue falling substantially from previous years, as consumer demand shifted and broader UK retail conditions weakened.

Management has responded by diversifying its product range, expanding size offerings and bolstering digital channels, but results have so far failed to turn the business into sustained profit.

Advisers from crisis consultancy Alvarez & Marsal are understood to be guiding the process, seeking potential investors or buyers who can support the brand’s turnaround or reposition it within a competitive market.

Observers noted that the timing of the accelerated sale — during the peak holiday trading period — reflects a sense of urgency among stakeholders to secure fresh capital and strategic direction before further financial deterioration.

A significant reduction in standalone stores over recent years has underscored the brand’s contraction from its earlier peak footprint.

Founded in London in 1990 by Linda Bennett, LK Bennett carved out a niche between luxury and high street fashion, becoming known for refined tailoring, elegant footwear and accessories.

Its history includes expansion into international markets and periods of strong growth, but more recent challenges — including shifting consumer fashion preferences and economic headwinds — have weighed on performance.

The current sale effort represents a pivotal moment in the company’s evolution, with potential new ownership seen as key to revitalising the brand and preserving its legacy within British fashion.