The retailer, which had been trying to secure a new backer since Icelandic investment vehicle Kcaj pulled funding, has appointed restructuring specialist MCR.
Philip Duffy and David Whitehouse, partners at MCR, have been appointed as joint administrators. They will trade the business as a going concern and hope to achieve a sale of the business "shortly".
The future of Kcaj, which is run by Arev in the UK, has hung in the balance since the collapse of the Icelandic banking system in October. Kcaj pulled planned funding into its portfolio of companies last year, leading to the administration of Hardy Amies and Ghost.
Arev bought the 14-store Blooming Marvellous in August 2007 for around£5m.
In November Retail Week revealed that the majoirty of the Arev directors left the fund following the failure of Kcaj to provide further funding.
Duffy said: “It is too early to determine the reasons why the company has gone into administration and we are concentrating on saving the business and selling the stores as a going concern thus saving the employment of those working there.
“What is certain is that even without the Icelandic connection, the chain was in for a tough time as consumers have started cutting back."
The management of some of Kcaj's other investments, which include Jones the Bootmaker and Aspinalls of London, are understood to be ready to buy out their respective businesses if Kcaj itself falls in to administration.
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