A world-renowned Bath architectural salvage business which has been hard hit by the recession has gone into voluntary administration.

Walcot Reclamation, which was set up 32 years ago and counted Prince Charles amongst its supporters, has seen its income take a dive in recent years.

Its owners Jane and Rick Knapp said they had been fighting "a losing battle" over the past few months and had had to admit defeat.

A notice from the couple on the business's website says they have called in accountancy firm Monahans to oversee the voluntary administration.

"It is with great regret that we have had to take the decision to call in Monahans and put Walcot Reclamation Limited into administration.

"We have fought a losing battle over the last few months to generate sufficient trade for the company to continue. The current economic crisis has proved too strong an adversary and no doubt the popularity over modern and retro items rather than the Edwardian, Victorian, Regency and Georgian styles for which we are known has had an impact."

Walcot Reclamation sold architectural antiques such as doors, ironwork and fireplaces and proved a goldmine during the height of the property boom when people were renovating houses with period pieces.

The Walcot Street business had recently planned to move out to a site in Bathampton and a lot of the stock had already been relocated, but the move has now been scrapped.

Mr and Mrs Knapp thanked everyone for their support since they first started the company in 1977.

Mr Knapp says on the website: "Jane and I would like to take this opportunity to thank all our clients, friends and supporters over the last 30 years or so.

"We have had the privilege of creating and running what has been described as one of Bath's institutions and it has been an enjoyable and at times exciting ride, until the last few months."

The couple have invited anyone interested in taking over the business to contact their agents but if nobody is forthcoming, the stock will be auctioned off.

They say: "Should any person feel the call then there is a ready to roll business there, complete with excellent experienced staff, a wide range of good quality stock, yard, warehouses, trucks and forklifts and a business name known both nationally and internationally.

"Otherwise, our agents will be preparing to auction our remaining stock at both sites towards the end of January."

Martin Tracy, who has run The Framing Workshop for 20 years in Walcot Street and leads the area's traders' association, said the business would be sadly missed.

He said: "What a shame. I have travelled all over the world and without exception everywhere I went as soon as I said where I was from people would have heard of Walcot Street because of Walcot Reclamation.

"Historically they have brought so many people to the street and we know the effect that has had on the street.

"It is very sad."

Anyone interested is asked to contact Graham Cockle at BCVA auctioneers and valuers on 0117 9533676 or email gcockle@dufa.com.