Hardy Amies brings in administrators

Struggling Savile Row tailor and former dressmaker to the Queen, Hardy Amies, has said administrators have been brought in.

Founded in 1946 by the late Sir Hardy Amies, the company suspended its shares recently after major shareholder Arev Brands Limited - with a 49.3 per cent stake - was unable to meet a request for further funds.

Arev had until recently provided substantial finance to the group, including £1.5 million in loans since April.

Hardy Amies has been suffering losses for several years and in June warned that poor womenswear sales would see losses accelerate in the first half of this year and would continue into 2009.

It reported underlying losses of £1.1 million in 2007, although this was an improvement on the £1.8 million seen the year before thanks to a 35 per cent surge in sales.

The group has six outlets across the UK, including a store at Bristol's new Cabot Circus shopping centre. It is also stocked in dozens of stores nationwide, including Harvey Nichols.

War hero Sir Hardy, who died in 2003, founded the firm initially as a men's boutique at 14 Savile Row, London, which is still the group's flagship store. Hardy Amies was granted a royal warrant in 1955.

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