If successful, the CVA would result in the closure of all its UK stores as the retailer looks to capitalise on its popularity abroad by moving online, as originally reported by The Telegraph.

The accessories retailer operates 10 stores across the UK, as well as concessions in Selfridges and Harrods, and employs around 300 people.

Exact details of the proposed CVA have not been revealed, but Aspinal of London has reportedly put forward Will Wright from KPMG as a nominee.