Fashion and homeware retailer Life & Style has entered administration – effectively the third time this fate has befallen the company in three years.

The 91-store chain was created partly from Ethel Austin, the clothing retailer which was rescued in 2008 from administration by businesswoman Elaine McPherson, only for it to collapse back into insolvency last year.

Then McPherson bought it again, but now RSM Tenon directors Simon Bonney, Peter Hughes-Holland and Tom MacLennan have been appointed as joint administrators of the business.

They said the retailer would continue to trade while they conducted an “immediate review” of the business.

“Life & Style has been brought to this situation through poor trading,” said Bonney. “We are currently looking at all aspects of the business, but with the exception of closures that the business had planned before it was put into administration, stores will remain open for the immediate future.”

Offers are currently being sought for the business, RSM Tenon added.