Eve Sleep is to appoint administrators after failing to find a buyer for its struggling business.
The company entered a formal sales process in June as part of a review of its strategic and financing options, and last month said it would need further funding after sales fell by 18%.
The company has been hit by a downturn in its market during the cost-of-living crisis as customer shun big ticket items.
In statement today, Eve Sleep said discussions regarding a sale of the company, or an equity fundraising transaction, have been unsuccessful.
As a result, it will be appointing Matthew Ingram and James Saunders of Kroll Advisory as joint administrators.
