Flush: LK Bennett’s £16m to grow

Fashion retailer LK Bennett, as beloved of such fashionistas as the Duchess of Cambridge, pictured, has secured £16 million funding from Lloyds to help drive its international expansion.

The retailer, which has 156 shops globally, said the five-year credit facility will be used to “accelerate” its store-opening programme in the US, as well as in countries including France, Spain, the Netherlands and the Middle East.

The retailer opened its first American outlet in Chicago in April 2011 and subsequently added another four in the States, where it says business has “traded ahead of expectations”.

LK Bennett, which has 107 UK stores, suffered a pre-tax loss of £9.7 million in the year to July 30, after hefty interest payments on shareholder loan notes of £61.9 million.