Designers Guild, the U.K.-based home goods brand, has taken a significant step toward bankruptcy. The company, which produces and distributes fabric and wallcovering for brands like Christian Lacroix Maison, Ralph Lauren Home and John Derian, has twice filed a notice of intent this month to appoint an administrator. The development was first reported by British outlet Sky News.

The company’s troubles are affecting its American partners, including Ralph Lauren Home, which has temporarily paused new orders on products that are part of its exclusive licensing agreement with Designers Guild. “Our fabric and wallcovering licensee, Designers Guild, is experiencing challenges within its business that are affecting its operations,” a representative for the brand told Business of Home. “Fabric and wallcovering is an important category for Ralph Lauren Home, and we are in the process of confirming both an interim solution and a long-term path forward to minimize interruptions for our customers.”

A representative for John Derian declined to comment. Christian Lacroix Maison did not respond to a request for comment.

According to reports in the British media, Designers Guild has hired a company called Interpath Advisory to oversee a possible bankruptcy proceeding. The original notice of intent was filed on September 3, then filed again on September 16—a tactic which could indicate the company is buying time to negotiate a sale.

A spokesperson for Designers Guild confirmed to Sky News that they are seeking white-knight investors: “We have been working with our advisers for a number of months as we assess and explore a range of potential investment options which will help drive the next phase of our strategy,” they said. “In recent days, we have taken legal steps to protect the position of the business while discussions with potential investors continue. In the meantime, it remains business as usual, and we will provide further updates in due course.”

The development comes 18 months after U.K. retailer Dunelm acquired the intellectual property of Designers Guild and leased it back to the company, in an arrangement that allowed the home goods brand and its stores to continue operating independently.

Founded in 1970, Designers Guild began when married couple Tricia and Robin Guild acquired an importer of Indian block-printed textiles. Though the two split a few years later, Tricia carried on with the company and grew it into a beloved British brand, encompassing a retail operation, fabrics, wallpapers, furniture, decor and more. In 2008 she was awarded an OBE—Officer of the Order of the British Empire—from Queen Elizabeth II for “services to interior design.” She stayed on as creative director after the acquisition.

Designers Guild did not respond to requests for comment.