Fashion chain Select is expected to collapse into administration on Thursday morning, before launching another company voluntary arrangement (CVA) in the next fortnight.
Advisory firm Quantuma will oversee the administration.
Quantuma partner Andrew Andronikou said: “The company will announce on Thursday that it will be going into administration.
“Then in another two or three weeks it will announce proposals to creditors for another CVA. There are no plans to close any stores or make redundancies.”
Select employs around 2,000 staff and has around 170 stores, Quantuma said.
The chain, which is owned by Turkish entrepreneur Cafer Mahiroğlu, resorted to a CVA last April. This enabled it to cut its rents by up to 75% and saved nearly 2,000 jobs.
Mahiroğlu bought the company out of administration in 2008.
Select has been ed for comment.