Shoe retailer Brantano has gone into administration less than half a year after being bought by an investment firm.
Administrators PwC said the company would continue to trade as it seeks to find a buyer. If a buyer cannot be found, around 2,000 jobs could be at risk across 140 stores in the UK.
However, it is understood that a number of potential buyers have already contacted PwC.
Brantano looks to be the first larger retailers to suffer big problems in 2016 following a tough Christmas trading period.
PwC's Tony Barrell said: "The continuing challenging conditions for 'bricks and mortar' retail stores are well documented.
"Like many others, Brantano has been hit hard by the change in consumers' shopping habits and the evolution of the UK retail environment."
Mr Barrell added: "The administrators are continuing to trade the businesses as normal whilst we assess the trading strategy over the coming days and weeks.
"Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration."