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Allegra Hicks in administration

Luxury brand Allegra Hicks has fallen into administration, blaming the credit crunch for its demise.

ReSolve Partners have been appointed administrators of Allegra Hicks and the firm are looking for a buyer of the business and its assets.

The assets being marketed include the brand's ready-to-wear and beach collection and a 300 sq metre store on London's Pont Street.

ReSolve partner Cameron Gunn said he was confident he would receive interest for the brand as sales have been growing for the last two years.

However he added: "Allegra Hicks is yet another retail business negatively affected by customers' reduced disposable income following the subprime crash last summer."

Allegra Hicks is sold in the likes of Harrods and Harvey Nichols.

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