Clothing retailer Austin Reed has entered administration , putting almost 1,200 jobs at risk.
The menswear brand, which has a branch in Cabot Place in Canary Wharf, blamed a challenging market and cash flow difficulties after its 100 UK stores were thrown into uncertainty by the announcement.
Joint administrator Peter Saville, of Alix Partners, said: “Our priority now is to work with all stakeholders and determine the optimum route forward for the business as we continue to serve customers throughout the UK and Ireland.
“Austin Reed is a well regarded and iconic brand, and therefore we are confident that it is an attractive proposition for a range of potential buyers; as such, we expect, and welcome, contact from interested third parties.”
As well as its 100 stores, the tailor is stocked in 50 other shops in the UK and employs 1,184 staff.
It is the second UK retailer to call in the administrators after the collapse of BHS .