More than 100 jobs are at risk after fashion chain Ness became an early Christmas retail victim.
The Edinburgh-headquartered group – which has outlets in Dundee’s Overgate and on the High Street in Perth – called in administrators after suffering “working capital difficulties.”
Business restructuring specialists BDO said James Stephen and Matthew Tait had been appointed joint administrators of Ness Clothing Limited.
The group – best known for its range of brightly coloured tweed bags and purses – employs a total staff of 105 across its head office function and a branch network that includes 10 stores in Scotland, five south of the border and four concessions.
The administrators said all staff had been retained and stores will continue to trade while a search for a new owner takes place.
“Notwithstanding the improving sales trend, with like-for-like sales up 12% over the last 12 months, the company experienced working capital difficulties,” Mr Stephen said.
“Nevertheless, Ness is a unique brand and remains a highly popular shopping destination for its loyal customer base, in towns across Scotland and England and we are confident of securing a sale of the company as a going concern.
“We have already received expressions of interest and we encourage other interested parties to come forward.
“The company will continue to trade whilst a sale is explored and all stores will remain open.
“Shoppers are still able to visit their local store for last-minute Christmas shopping – and to take advantage of planned post-Christmas sales beginning on Boxing Day.”
Filings at Companies House show the firm’s accounts for the year to January 31, 2016 are overdue.
The group – which has been trading since late 2002 – had been due to post returns by October 31.
James Macaulay and Rosemary Macaulay are listed as the firm’s two directors.