We’ve been sitting here in shock after hearing that investors Club 21 have walked away from it’s financing agreement with Luella, causing the designer brand to cease trading.

According to WWD, in a joint statement, VSQ Limited, the subsidiary of Club 21, said it had reluctantly “taken the decision not to invest further in its relationship with Luella Bartley Limited.”

There’s been a string of bad luck for the fashion designer, who has a large fan base including Alexa Chung, Kate Moss and Lily Allen. Last month Luella’s key ready-to-wear producer was hit by the recession and the factory closed unexpectedly.

However, it’s not a final curtain call just yet, Luella has hinted that there may be knight in shining fashion armour. “We have a number of options open to us, and are considering these over the coming months,” she said. We’ll be waiting.