A 'sleep welllness' brand has gone into administration, after abandoning its bid to find a buyer.

Attempts to restructure Eve Sleep to make it viable as an independent business have failed.

The retailer said it was forced to call in the administrators because shoppers were turning their backs on big ticket items and homeware due to the cost-of-living crisis, as reported by Retail Gazette.

Matthew Ingram and James Saunders of Kroll Advisory have been appointed as joint administrators, and the company's AIM shares suspended. Shareholders have been warned not to expect any return.

Eve Sleep's UK sales fell by 18 per cent compared to last year, in what the company described as "truly unprecedentedly appalling market conditions".