The owner of Tie Rack will begin closing its remaining 44 stores across the country - including one in Kent - from tomorrow, putting 200 jobs at risk.

High overheads and under-investment are being blamed for the move.

The retailer, which has a store in Tunbridge Wells and formerly had one in Bluewater, is owned by an Italian company called The Fingen Group.

There will be a closing-down sale, with stores shutting their doors for the last time by the end of the year.

The company is already offering a 25% discount on all products on its website.

In a statement, the company said: "International accessories retailer Tie Rack is to launch a closing down sale, starting on Wednesday, November 20.

"In the closing down sale, discounts of at least 50% will be available across the entire range of fashion accessories for both men and women, from ties and cufflinks to scarves and handbags.

"New management, supported by new funding, came on board recently and immediately conducted an in depth review of the Group's operations.

"However, following a period of prolonged decline in Tie Rack's fortunes, it is with regret that we today announce this closing down sale.

"Management are working with staff to provide support during this difficult time."

From a peak of 450 stores in 1998, the company now trades from just 82 sites globally, with only 44 in the UK.

Under previous management, nine further closures were already planned over the coming months.

The closure stores are all expected to close on December 27.