Retailer Orla Kiely has fallen into administration in a another blow to the UK’s already struggling high street.
The brand, which is mostly known for its 70s style geometric prints, announced on Wednesday that it was voluntarily entering administration citing a challenging environment.
Specifically, Kiely’s husband Dermott Rowan said: “following various challenges that have faced the company over the past few years, both in the UK and abroad”.
David Ruben & Partners have been appointed as administrators to handle the process.
A spokesman commented on the decision: “Orla Kiely’s home and design licensing business will not be affected, and its selection of accessories and homewares will continue to be sold through its distribution partners.”
Orla Kiely’s brand came into being 23 years ago, when the Irish designer began fashioning hats, before expanding to handbags.
The brand went onto be worn by the likes of Kate and Pippa Middleton, with two stores in London’s Covent Garden and Kings Road.
All Orla Kiely shops are set to be closed with immediate effect, including its store in Kildare, Ireland.
Orla Kiely’s fall into administration will no doubt only add to fears regarding the health of the UK high street.
Retailers have come under pressure in recent years amid falling footfall levels and lower discretionary levels among consumers.
High inflation levels, stagnating wages, and changing shopping habits have led shoppers to abandon the traditional method of visiting brick and mortar stores.
Department store giant House of Fraser narrowly avoided administration after Sports Direct (LON:SPD) owner Mike Ashley stepped in to rescue the retailer.
However, Toys R Us and Maplins proved less fortunate, collapsing into administration earlier this year, amid mounting debts.
Moreover, the nation’s supermarkets are also feeling the pinch, with both Marks & Spencer (LON:MKS) and Waitrose announcing the closure of several stores across the country.