In another blow to the High Street and the retail sector generally, Links of London has gone into administration threatening 350 jobs.
Deloitte administrators, who were appointed yesterday, said that "in light of ongoing cash flow pressures", the firm's directors were left with "no choice" but to place it into administration.
The firm has 25 shops in the UK and is owned by Greek company Folli Follie, which has been involved in a case of fraud related to overstating sales.
The administrators are hoping to find a buyer but this may not be possible. As things stand any vouchers are unlikely to be honoured.
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