Fashion and homewares chain Life & Style has entered administration.
The retailer's banks have appointed RSM Tenon after filing a notice to appoint administrators last week at Manchester High Court.

Private equity firm SKG Capital is said to be interested in running the 150-store business as a going concern, according to a report by Retail Week.

Life & Style is the third company set up by owner Elaine McPherson to enter administration, after her fashion business Ethel Austin and sister homewares chain Au Naturale suffered the same fate in February 2010.

In March 2010, Ms McPherson launched Life & Style after acquiring the trade and assets of Ethel Austin and Au Naturale.

A significant cash injection was supplied by Suresh Ruia, md of Manchester-based textile business Beamfeature.

RSM Tenon directors Simon Bonney, Peter Hughes-Holland and Tom MacLennan have been appointed as joint administrators, and have begun conducting an immediate review of the business.

Mr Bonney said: "Life & Style has been brought to this situation through poor trading. We are currently looking at all aspects of the business, but with the exception of closures that the business had planned before it was put into administration, stores will remain open for the immediate future."

Offers are being sought for the business and assets and all enquiries and expressions of interest should be directed to 0845 371 0890.