In a statement today, the retailer said the board has approached and has been approached by various parties in relation to the potential provision of funding to support Hardy Amies’ working capital requirements.
The statement said: “The board has, as yet, been unable to finalise an offer that would secure the future of the company. The board has therefore today taken the decision to file a notice of intention to appoint an administrator.”
The retailer will continue to seek a financial solution and is in ongoing discussions with various parties, although it remains unclear what the outcome of these discussions will be.
The Savile Row retailer suspended trading its shares on AIM on Friday pending clarification of its financial position.
Its major shareholder, Arev Brands, refused to provide financial support to fund ongoing working capital requirements.
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