The 50-store chain, registered as Trident Fashions since March 2001, has been teetering on the verge of collapse for several years and it has veered in and out of administration.
The shops are all understood to have closed and the Official Receiver in Leeds has been appointed liquidator.
Separately, five people have been charged with various counts of fraud. These charges are with respect to a previous incarnation of the business.
A spokeswoman for the Serious Fraud Office (SFO) said: 'There is an investigation by the SFO and a number of people have been charged at a magistrate's hearing in January.'
The formerfinance director Ramesh Sthankiya and four other men, Paul Syers, Gary Stewart, Ian Stewart and Don Ashford are due to appear in Birmingham Crown Court on June 1.
The spokeswoman said the investigation related to events at Ciro Citterio 'in its old form that went into administration in March 2001' and was not linked to recent management.
In September 2003, it was again in administration and the retailer was acquired by restructuring business Hilco, which placed the company back into administration just days later.
The clothing business was then acquired in April last year by Anar, part of Indian manufacturing group Indorama.
In September, the administration period was extended by six months by the High Court.
BDO Stoy Hayward took over as administrator from Begbies Traynor on April 7. However, it was decided by BDO Stoy Hayward that the losses were too great and no adequate funding was available.
BDO said staff will be paid for the period April 7 to April 27.
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