Savile Row fashion house Hardy Amies Plc today (10 October) appointed administrators to the company after failing to secure funding to support its working capital requirements.

The move follows several weeks of talks by the firm's board to "explore the options to address its short and medium term financing requirements."

But today it said its funding position "remains unclear and therefore it is with regret that the directors have taken the decision that the company should file for administration today.

The AIM-listed firm suspended trading in its shares on 26 September after its major investor, Icelandic investment group Arev Brands Limited, was unable to put more money into the business.

Hardy Amies, which was the official dressmaker to the Queen for nearly half a century, went public after Sir Hardy's death in 2003.

Last year it made losses of GBP1.1m, and in June warned that losses would worsen this year amid poor women's wear sales.

The fashion house has expanded rapidly over the past two years, launching ready-to-wear women and men's clothes, five new UK stores, new licensing agreements in Japan, and even intended to open its first stores in China.

But it has been criticised by fashion experts for failing to modernise its image like rivals Burberry and Aquascutum.