The firm, founded in 1946 by the late Sir Hardy Amies, is appointing Kroll as administrators after its funding remained "unclear" despite last-ditch rescue talks.

The company said: "Until very recently the board was hopeful that funding would be received.

"The position remains unclear and therefore it is with regret that the directors have taken the decision that the company should file for administration."

The Savile Row tailor, which has around 50 staff, suspended its shares two weeks ago after major shareholder Arev Brands Limited was unable to meet a request for further funds.

Arev, which owns a 49.3 per cent stake in the firm, had until recently provided substantial finance to the group, including £1.5m in loans since April.

Hardy Amies has been suffering losses for several years and warned in June that poor sales would see losses accelerate.

It reported underlying losses of £1.1m in 2007, although this was an improvement on the £1.8m 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 shop at 14 Savile Row, central London, which is still the group's flagship store.

Hardy Amies was granted a royal warrant in 1955 after Sir Hardy first began dressing Princess Elizabeth in 1952 .

During the 1960s and 1970s, Hardy Amies designed outfits for a number of high-profile clients.

In 2001, the couturier sold his business to the Luxury Brands conglomerate.

After Sir Hardy's death the brand continued to operate under new design director Ian Garlant.