Luxury jewellery brand Links of London has gone into administration, putting hundreds of jobs at risk.
The company’s collapse could place as many as 350 jobs under threat.
‘Difficult trading conditions’
The jewellery outfit is just the latest brand to be struggling with financial difficulties, and its decline marks yet another blow to the high street.
The company has entered administration following a failed sale process, initiated by its Greek owner, Folli Follie, which was plunged into crisis over a fraud relating to overstated sales.
Matt Smith, joint administrator for Links of London, said, "The company has had to contend with difficult trading conditions that have impacted the whole retail sector.
"The directors have been seeking alternative solutions, including consideration of a CVA, refinancing or sale, but have unfortunately been unable to conclude such a transaction.
"In light of ongoing cash flow pressures, this has left the directors with no choice but to place the business into administration."
Deloitte has been appointed as administrators in an effort to secure a rescue sale while the business continues to trade.
The company boasts 28 retail outlets across the UK and Ireland, along with stores in the United States, Canada and Asia, with 337 stores in total around the world.