Women’s clothing firm Viyella, which dates back to 1784, has become the latest well-established retail firm to call in administrators.
There has been speculation for days that the future of the company, one of the UK’s longest established clothing manufacturers, was uncertain.
The firm has 120 stores and concessions in the UK as well as an online sales operation and employs about 450 staff.
Unions said they hoped there would be a strong interest in buying the chain.
The design and retail chain employs hundreds of staff and is owned by Birmingham-based investment group Harris Watson, which said in a statement: “Following an assessment of the current economic situation and the prospects for the future, the directors have reluctantly decided that they have no alternative but to place the business into administration.
“We believe there will be a strong interest in the Viyella brand and hope the joint administrators will be able to conclude an early sale which protects the brand name and many of the jobs within the business.”
Andrew Turpin, of Birmingham-based insolvency practitioners Poppleton & Appleby, has been appointed joint administrator to William Hollins & Company, which trades as Viyella from stores and concessions throughout the UK.