A LUXURY British home decor brand is on the brink of collapse after 56 years in business.
The company is known to take inspiration from royal decor in some of its collections.
Designers Guild has filed a notice of intention to appoint administrators, according to reports from Sky News.
The luxury home decorations firm, whose flagship store can be found on the King’s Road in London, is said to have been facing challenges including a difficult trading environment and rising costs.
It has reportedly lined up Interpath Advisory in the case of insolvency.
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.
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“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.”
Designers Guild was founded in 1970 and the company is jointly owned by founder Tricia Guild and her brother, chief executive Simon Jeffreys.
It has showrooms located around the world and is regarded as one of the leading brands in the global interior design industry.
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The company designs, wholesales and retails a range of luxury fabrics, wallpapers, furniture, and bed, bath and home accessories.
The Designers Guild brand and its design archive were acquired by homeware retailer Dunelm 16 months ago.
In a “strategic collaboration” between the two companies, the brand was then licensed back to its founders.
Designers Guild also has its very own royal link – with several ranges inspired by the interiors of both Buckingham Palace and Windsor Castle.