Retail chain Austin Reed is poised to formally collapse into administration, putting about 1,000 high-street jobs at risk just a day after BHS hit the rocks.

It is understood the tailor will appoint Alix Partners after revealing a notice to appoint advisers to handle an administration late last week.

The chain has three stores in Sussex, in Worthing, Eastbourne and Chichester.

The move will deal another blow to Britain's high street following the administration of BHS on Monday, which has put 11,000 jobs under threat and threatened the closure of up to 164 stores in the biggest retail failure since Woolworths went under in 2008.

Austin Reed, which was founded 116 years ago, has suffered years of falling sales as it has failed to attract younger shoppers.