Late on Thursday night fashion retailer LK Bennett was bough outright by Chinese partner Rebecca Feng, according to Drapers.
Feng bought the UK and Ireland wholesale business under the newly incorporated Byland UK last month.
The retail chain employs 480 people and according to claims made by Draper some of the 37 concessions and 39 stores could close.
LK Bennett went into administration in March and was led by joint administrators Dan Hurd, Hunter Kelly and Craig Lewis of EY.
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