Kroll Corporate Advisory & Restructuring Group has been appointed administrators of the six-store group.
Hardy Amies is the latest retailer to hit the buffers — adding to a list that includes greetings card group Celebrations Group, fashion retailer Joy, and MFI’s retail and property divisions.
The Savile Row tailor and one-time couturier to the Queen filed a notice of intention to appoint an administrator at the beginning of the month.
The company asked for funds from major backer Arev - an investment vehicle of Icelandic private equity fund Kcaj – which has a 49.3 per cent stake in the company.
Kroll partners Peter Saville and and Stuart Mackellar are joint administrators.
In a statement they said: "Following the appointment of the joint administrators, the business has since commenced a sale to reduce volumes of current season stock at significantly discounted prices."
Saville added: "Sadly, fallout from the credit crunch has meant that this celebrated British business has struggled to survive. At this stage all five stores will continue trading as we consider expressions of interest from a number of parties for all parts of the business."
It follows the news this week that another Arev-backed brand, Ghost, is seeking new funding solutions from the investor and its other major shareholder, Kevin Stanford.
Hardy Amies warned in June that poor womenswear sales would result in further losses in the first half of this year and into 2009.
In a stock exchange announcement the retailer said: "The board has continued to vigorously explore the options to address its short and medium term financing requirements.
"The board has been in negotiations with a number of parties and until very recently the board was hopeful that funding would be received. The position remains unclear and therefore it is with regret that the directors have taken the decision that the company should file for administration today."
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