Furniture chain Multiyork has gone into administration, putting nearly 550 jobs at risk.
Administrator Duff & Phelps said Multiyork, which has 50 stores across England and Wales, had been hit declining consumer confidence.
It told Sky News the company would continue to trade as normal for the next few weeks while it looked for a potential buyer.
“Trading conditions for UK retailers continue to be difficult due to a number of factors including economic uncertainty, rising commodity prices, increasing business rates and the fall in value of the pound which has increased the cost of importing raw materials and products,” said joint administrator Allan Graham.
Less money being spent
“This appears to be leading to a sharp fall in consumer confidence and less money being spent on discretionary items.”