The Pier has joined a sad and increasingly long list of firms who've been forced to call in the administrators due to financial difficulties.
An estimated 350 people are now at risk of losing their jobs since the chain, which has 31 stores and 17 concessions across the UK, succumbed to the market downturn of recent months.
The firm, which was founded in Richmond, south London 19-years ago, has an ethical sourcing policy and presented most of its stores as up-market bazaars.
Mazars are the administrators with Hilco, who tried and failed to buy Woolworths for a £1 last week, taking over the day-to-day running of the chain's outlets.
The Pier, is owned by Icelandic group Lagerinn, which promoted a drive to expand outside the UK - with an opening in Reykjavik, Iceland and Riga, Latvia last November.