The business will be wound up after the search for a buyer failed.

Sonia Rykiel, the brand's founder, became known as the "Queen of Knits" after her striped knitwear allowed women to move away from more formal styles of dress.

Her "Poor Boy sweater" was made famous by film star Audrey Hepburn.

Sonia Rykiel died two years ago from Parkinson's disease, aged 86.

The business she founded was bought by First Heritage Brands seven years ago. The investment group, backed by Hong Kong billionaires Victor and William Fung, relaunched the brand with millions of dollars of new investment and cut costs, but the business continued to make a loss.

Head designer Julie de Libran left the firm in March and it went into receivership in April, closing down stores in New York and London.

Sonia Rykiel's striped fitted sweaters were seen as a bold move away from formal suits for women. Designs for men and children, accessories and perfumes followed.