Women's clothing firm Viyella, which dates back to 1784, has become the latest well-established retail firm to call in administrators.
There has been speculation for days that the future of the company, one of the UK's longest established clothing manufacturers, was uncertain.
The design and retail chain, which has 120 stores and concessions in the UK as well as an online sales operation, employs hundreds of staff.
It is owned by Birmingham-based investment group Harris Watson, which said in a statement: "Following an assessment of the current economic situation and the prospects for the future, the directors have reluctantly decided that they have no alternative but to place the business into administration.
"We believe there will be a strong interest in the Viyella brand and hope the joint administrators will be able to conclude an early sale which protects the brand name and many of the jobs within the business.
"We should like to express our thanks to all the Viyella team for the hard work they have put into the business. Unfortunately the current economic downturn has undone all the efforts of the last five years."
Unions said they hoped there would be a strong interest in buying the chain.
Paul Kenny, general secretary of the GMB union, said: "City fat cats and their hangers-on who brought us the credit crunch have now brought down another iconic brand.
"The clothing jobs that were once a mainstream of manufacturing first migrated to China, while those within retail have gone as well now."
