Accessories business Mikey has gone into administration.
Mikey has appointed restructuring specialist BDO Stoy Hayward to find a buyer for the company.
The fashion accessories business was bought from administration in 2006 by former New Look director Alan Wood.
Wood told Drapers that Mikey's three stores have ceased to trade and that around 100 jobs had been lost. "I feel really sad about what's happened and we're going to see a lot more businesses enter administration," said Wood. "Banks have been really tight with their cash."
It is unclear what will happen to Mikey's eight concessions.
In February, Wood put the business up for sale with a price tag of £7.5 million.
According to accounts filed by Mikey's parent company Amaranth Accessories, Mikey made a loss of £111,217 for the six months to January 31 2007.