Carpetright is set to enter administration, putting the future of its more than 1,800 staff at risk.
The carpet and flooring retailer has filed a notice of intent to appoint administrators, with experts from PwC are set to be called in as part of the process.
Jobs could be at risk in Hertfordshire, with Carpetright operating stores in Stevenage, Letchworth, Welwyn Garden City and Hemel Hempstead.
The company, which employs 1,852 people, operates 272 stores across the UK which are continuing to trade as normal while administrators find emergency funding or a rescue buyer.
Kevin Barrett, chief executive officer of Nestware Holdings, said: "We remain focused on securing external investment to ensure as few customers and colleagues are impacted as possible.
"They are our main priority and we are taking all appropriate action to make sure they are informed and supported through this process.
“We have begun promising conversations with interested parties that are moving in the right direction, encouraging us that Carpetright has a viable future."
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