Administrators EY have completed the sale of the majority of the business and assets of the fashion retailer LK Bennett in the UK and Ireland to Byland UK Limited for an undisclosed sum. 

LK Bennett's Irish operations, which trade through the UK business, will form part of the sale. 

The womenswear retailer operates from two stores in the Republic of Ireland – in Dundrum Town Centre in Dublin and one in Kildare Village. It also has six concessions. 

The sale today includes the company’s headquarters, 21 stores, all of its concessions, and 325 employees, which will transfer across to the purchaser. 

The UK Company entered administration last month. 

The 15 stores that were not included in the sale will be closed, resulting in the redundancy of around 110 workers. 

One of these stores is located in Bridgewater Park in Banbridge in Co Down. 

The company’s international subsidiaries are not included in the sale and the Joint Administrators continue to explore options for these businesses.

The firm is owned by founder Linda Bennett, who had stepped back from the brand in 2008, but returned in 2017 as a consultant.

Later that year, she bought back the controlling stake previously held by Phoenix Equity Partners.

According to the most recent available accounts for the company, Ms Bennett invested £11.2m into the group upon her return to ownership.

The accounts showed a loss before tax of £47.9m for the year to 29 July 2017. 

The failure is the latest in a string of mid-market women's fashion labels to buckle under the pressure of dwindling high street sales. 

Last year, Irish designer Orla Kiely closed five retail stores as the fashion brand went into liquidation. 

Meanwhile, department store House of Fraser, which stocks the LK Bennett brand, went into administration last year before being bought out by Sports Direct tycoon Mike Ashley.