Electronics retailer Maplin is the second UK chain to fall into administration today, following the earlier announcement of Toys R Us failing.
Talks with potential buyers for Maplin collapsed this morning, BBC News reported.
The company has 217 UK stores and more than 2500 staff - all of whom are now at risk. It's not known if any of the chain will survive.
For now, shops will remain open through the administration period.
Maplin was founded in 1976.