Premium knitwear brand Spirit of the Andes has entered administration after over two decades in the trade.

"The affairs, business and property of the company are being managed by the joint administrators as agents of the company and without personal liability. As a result of the administration, goods are sold as seen and the company is not able to offer a refund for any unwanted items," said the company in a statement.

Headquartered in Lancashire and founded in 1993, Spirit of the Andes sells garments made by artisan knitters in Peru and Bolivia using high-end alpaca fibres and pima cotton. The company's premium knitwear products are sold in shops across the UK, Ireland, Denmark, the Netherlands and Japan.

On July, 20 the company announced its collapse and Daryl Warwick and Mark Ranson of Armstrong Watson were appointed joint administrators.

As reported by the ‘Insider’, Ranson said: "The business failed following a numbers of years of loss-making trading, partially brought about by being committed to property leases on loss-making shops."

"The administrators are continuing to trade the business. The retail estate is currently being rationalised to create a business which will be attractive to potential purchasers. Interested parties should contact the administrators at their office," added Ranson.

The business had 12 shops at the date of the administrators' appointment.