“Unfortunately East is the latest high street casualty following a tough trading period at the end of last year," said Rowley of the retailer who operates 34 stores and 15 concessions.
"The retailer was making progress to expand its footprint, particularly looking at international opportunities, however it has been unable to secure the necessary funding to realise those plans," he added.
This is the second time East has fallen into administration. An earlier process in 2015 led to a £3.4m pre-pack buyout which allowed the business to offload 15 unprofitable stores and five concessions.
In 2016 the business sold a controlling stake to New York-based Rahul Kakar of Crore Capital, which resulted in the departure of its CEO Suzi Spink. After this former Thomas Pink COO Erica Vilkauls was appointed as CEO; she had previously worked for brands such as LK Bennett and John Lewis.
Rowley said the administrators were now "working closely with all stakeholders to evaluate the options to sell all or parts of the business".
The business was founded in 1994 by former Monsoon team members Clive Pettigrew, Penny Oliver and Jonathan Keating.