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The luxury home decor firm has filed a notice of intention to appoint administrators

A British homeware brand is on the brink of collapse after more than half a century in business.

Insolvency specialists have swooped in as the future of Designers Guild remains unclear.

The luxury home decor firm, known for product lines inspired by the interiors of Buckingham Palace and Windsor Castle, has filed a notice of intention to appoint administrators, Sky News has reported.

The company has grown into a global enterprise known for luxury furnishing fabrics, wallcoverings, and home accessories.

It has been a fixture of the British interiors market since its founding in 1970.

Its flagship shop sits on the King's Road in London, long regarded as one of the capital's most prestigious retail destinations.

The business is owned by its founder, Tricia Guild, and chief executive Simon Jeffreys.

Ms Guild and Mr Jeffreys are understood to have been left with no option but to bring in insolvency practitioners after a difficult trading climate and escalating costs took their toll.

Interpath Advisory has been placed on standby to handle the administration process.

The crisis arrives just 16 months after Dunelm, the London-listed homewares retailer, purchased the Designers Guild brand and intellectual property.

The high street chain subsequently licensed the brand back to Ms Guild's operation.

Despite that deal, the underlying business has struggled to stay afloat amid mounting financial pressures.

A spokesperson for Designers Guild said: "We have been working with our advisers for a number of months as we assess and explore a range of potential investment options which will help drive the next phase of our strategy.

"In recent days, we have taken legal steps to protect the position of the business while discussions with potential investors continue.

"In the meantime, it remains business as usual and we will provide further updates in due course."

According to one source, Interpath has been conducting a sale process for several months and is still in discussions with at least one prospective buyer about acquiring the brand.

The outcome of those talks could prove decisive for the company's survival.