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Hardy Amies plans to appoint administrator

Hardy Amies has filed a notice of intention to appoint an administrator after failing to agree a rescue deal for the business.

The upmarket tailoring company said that the board had had talks with various parties about funding the business after major investor Arev declined to continue funding the business last week. Trading in the company's shares were suspended.

However, the company said this morning that it had been unable to finalise a deal to secure the future of the company, and the board had decided to appoint administrators.

It added that it was in ongoing discussions with various parties about the future of the business.

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