Retail Slump, High Rents Hurt L.K. Bennett’s U.S. Stores

A prolonged global slump in retail spending and high rents contributed to the bankruptcy and planned liquidation of fashion retailer L.K. Bennett’s U.S. subsidiary, the company said.

The U.S. operation has $32.5 million in liabilities and $6.9 million in assets, according to L.K. Bennett U.S.A. Inc.'s declaration filed April 8 in the U.S. Bankruptcy Court for the District of Delaware.

The shoe and fashion retailer, known for its kitten-heels and famous customers such as royal Kate Middleton and Prime Minister Theresa May, filed for bankruptcy April 3, less than a month after its U.K. parent filed for insolvency and closed ...