Betterware sold household products, cleaning materials and mobility aids via its website and had a large group of self-employed distributors and managers across the UK and Ireland.

It was founded in London in 1928 as 'Betterwear' and established headquarters in Birmingham in the 1980s.

Earlier this month, the company faced a winding up petition from HMRC which was due to be heard in the High Court in London on 18 April.

The administrators said Betterware had suffered tough trading conditions over the past nine months, leading to cashflow problems which had resulted in the administration.

Claire Dowson, insolvency director at Begbies Traynor and joint administrator, said: ‘It is very sad to see the demise of such a long-established business.

‘Our aim was to find a purchaser for the business as a going concern in order to safeguard the jobs but unfortunately, despite our efforts, this did not prove possible.

‘We are now in the process of realising what assets we can in order to achieve the best possible returns for creditors.’

Betterware’s failure follows the news last week that its sister company Kleeneze, which also sold healthcare and household items via self employed agents, had gone into administration. Administrators from FRP Advisory cited ‘logistics challenges and IT issues’ at a new distribution centre as among its difficulties.

Both Betterware and Kleeneze were acquired in 2015 by JRJR Networks, then known as CVSL, a Dallas-based group that trades on the New York Stock Exchange and has been building a platform of direct-to-consumer brands.

Report by Pat Sweet