Around 1,400 jobs were at risk at budget clothing firm Mark One today after it was put into administration for the second time this year.
Business recovery firm Leonard Curtis has been appointed to seek a buyer for the retailer and said it had already received expressions of interest.
The 125-store high street chain was put into administration this week, just months after its founder Mark Brafman bought the chain back from administrators Deloitte.
Mark One, which sells budget clothing for women, girls and teenagers and previously traded as MK One, has struggled to compete with other budget and discount clothing outlets on the high street.
Its situation will raise fears that some ailing retailers, afflicted by a slump in consumer spending, may not be able to limp through the peak Christmas trading period.
Neil Bennett, a Leonard Curtis partner, said the business had suffered under "particularly difficult trading conditions".
"It is also in severe competition with much bigger rivals such as Primark and the supermarkets," he said.
"It does, however, have 125 stores in key high street positions across the country and a loyal client base."
Mr Bennett said the company currently employs approximately 1,400 full and part-time workers.
We believe that, in spite of current conditions, this is a business that could have a strong future and we look forward to providing that future," he added.
"We have already received a number of expressions of interest and are continuing to operate the business while we look for a swift sale in order to protect creditors and jobs as far as possible."
In May, owner Baugur, an Icelandic investment firm, had said it decided to offload the loss-making firm, as it "no longer fitted into the portfolio".
It was snapped up by Woolworths' suitor Hilco, which specialises in acquired under-performing business and turning them around, but fell into administration just weeks later.
Mr Brafman bought over a 100 stores from Deloitte at the end of May and subsequently re-branded them as Mark One.
The company, which has its head office in Acton, west London and stores in town centres across the UK, had a turnover of £30.4m between 24 May and 19 November.
