Womenswear retailer LK Bennett has collapsed into administration, putting around 500 jobs at risk.
The firm, a favourite of the Duchess of Cambridge, feared folding last week when they entered talks with administrators EY.
But the 29-year-old company will now be put into the hands of administrators, with 200 outlets earmarked for closure, including 41 standalone UK stores.
Stores will continue to trade, but the retailer's website stopped orders on Thursday, with a notice saying: “We're experiencing some issues but should be up and running again soon.”
Dan Hurd, joint administrator, said: "LK Bennett is a strong luxury UK brand, the new season collection was critically acclaimed and recent trading is up, which we hope will be attractive to prospective buyers."
Other celebrity customers include Pippa Middleton and Holly Willoughby.
The store, founded by the “Queen of the Kitten Heel” Linda Bennett, was set up with a goal to produce “something in-between the designer footwear you find in Bond Street and those on the high street.”
She left the brand in 2008, but returned in 2017 as a consultant and bought back the controlling stake previously held by Phoenix Equity Partners.
According to the most recent available accounts for the company, Ms Bennett invested £11.2 million into the group upon her return to ownership.
They showed a loss before tax of £47.9 million for the year to July 29 2017.
The failure is the latest in a string of mid-market women's fashion labels to buckle under the pressure of dwindling high street sales.
Last year, Irish designer Orla Kiely closed five retail stores as the fashion brand went into liquidation.
Meanwhile, department store House of Fraser, which stocks the LK Bennett brand, went into administration last year before being bought out by Sports Direct tycoon Mike Ashley.
