High street jewellery retailer Links of London has slid into administration, putting 350 jobs at risk.
The retailer has appointed Deloitte as administrators in an attempt to secure a rescue sale, while the business continues to trade.
The British brand, which has 28 stores and seven concessions in the UK and Ireland, is owned by troubled Greek company Folli Follie, which was plunged into crisis over a fraud related to overstating sales.
Matt Smith, joint administrator for Links of London, said: "The company has had to contend with difficult trading conditions that have impacted the whole retail sector.
"The directors have been seeking alternative solutions, including consideration of a CVA, refinancing or sale, but have unfortunately been unable to conclude such a transaction.
"In light of ongoing cash flow pressures, this has left the directors with no choice but to place the business into administration."
