U.K. fashion chain L.K. Bennett collapsed into insolvency as the country’s growing retail crisis claimed a favorite haunt of Kate Middleton, the Duchess of Cambridge.
The move threatens about 500 jobs, deepening the gloom on the U.K.’s shopping strips. Earlier Thursday, department-store and grocery operator John Lewis Partnership Plc cut employee-owners’ annual bonus to the lowest level in more than half a century, while rival Debenhams Plc on Tuesday issued its fourth profit warning in 14 months.
