High street store BANK has gone into administration, putting 1,500 jobs at risk.
Accounting firm Deloitte has been set up as the administrator for the company, and are hoping to secure a deal that will save the company, with some parties reportedly expressing interest.
This comes six weeks after JD Sports sold the control of BANK to investment firm Hilco Capital.
The company owns 84 stores mainly in the Midlands, Scotland and Northern England.
BANK has reportedly been struggling for some time due to high street and online competition.
In the meantime, the company still have all stores open. Customers may also benefit from the up to 70% off sale they are offering on their site.