The administrators of LK Bennett have said that 15 of the fashion retailer's stores will close after it was sold to new owner Byland UK.

Around 110 employees will be made redundant. A Glasgow outlet was reported as one of those to close.

The sale to Byland includes the company's headquarters, 21 stores and all of its concessions.

READ MORE: 500 jobs at risk as LK Bennett 'in administration'​

It was reported that the move safeguards around 325 jobs.

Shares in restaurant operator Tasty dropped on Friday after it raised £3.25 million by placing new shares, as it sought to pay off debt.

The company, which owns the Wildwood and Dim T brands, said the proceeds would be used to pay down debt and for general working capital purposes.

Keith Lassman, chairman of Tasty, said "This is an important fundraise for Tasty as it will enable us to continue our strategic plans with vigour."

The group said trading had become "increasingly challenging" during 2018 and no improvement is expected this year. Shares in the company were down 14%.

Luxury conglomerate LVMH has said its acquisition of hotel and train company Belmond will complete next week, after competition authorities gave clearances for the deal to go through.

The company, which also owns high-end fashion labels such as Louis Vuitton and Christian Dior, is to pay 3.2 billion US dollars (£2.54 billion) for the business.

Belmond runs a global portfolio of hotels, cruises, safaris and trains. In the UK this includes Raymond Blanc's Oxfordshire hotel and restaurant Le Manoir and luxury train services British Pullman and Royal Scotsman.