The firm, which sold branded outdoor clothing, footwear and accessories, has made 63 employees redundant.
Managing director Beverley Ross blamed the recession.
The firm had cut costs and sought to export this year but HSBC lost faith and Adrian Allen and Graham Bushby at Baker Tilly Restructuring & Recovery were appointed joint administrators for the firm.
Allen said: "Tayberry is one of many UK businesses operating in the tough retail sector which has suffered from changing customer demand and working capital issues, compounded by reduced credit from UK and worldwide suppliers.
"On appointment, we have unfortunately made a number of redundancies but will continue to trade the company on a limited basis."
He added: "We're trying to sell the business and assets. There has been quite a bit of interest but it is too early to say what is going to happen."
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