Made.com has moved a step closed to collapse after it filed a notice to appoint administrators.
Shares in the company were suspended this morning on the London Stock Exchange.
It comes after Made.com stopped taking new customer orders last week.
The retailer sold trendy furniture and home furnishings online - but does have a physical store in London's Soho district.
Made.com went up for sale last month, but no buyer was found.
Made.com Design, the operating arm, today filed a notice to appoint PricewaterhouseCoopers (PwC) as its administrators.
The company said: "Made has now been notified that the board of Made.com Design (MDL) has resolved to file notice of its intention to appoint administrators, with a view to appointing Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP as administrators of MDL."
The decision means Made.com has an extra ten days to find more cash or a buyer to save the firm.
Made.com was launched in 2011 and employed around 700 members of staff at the end of 2021.
When a business enters administration, it doesn't necessarily mean it will close down.
The control of the company is passed to the appointed administrator who will look at how to sort its debt and other financial difficulties.
Companies can be bought out of administration too.
If a company in administration can't be saved, then it is normally liquidated and its assets sold off to pay its debts.
Made.com - your rights
Experts say consumers have an uncertain future if Made.com goes into administration.
The notice to appoint administrators doesn't mean the company has collapsed yet, but is heading toward administration.
At the moment, the company isn't accepting new orders online, or in its two showrooms in London and Yorkshire.
Made.com confirmed to MoneySavingExpert that outstanding orders placed before October 26 will still be honoured.
This means you should still receive your goods if you put in an order before this date.
It isn't clear what is happening to orders placed after this point - there is no guarantee at this stage that they'll arrive.
Made.com isn't currently accepting returns, refunds or order cancellations.
If you've bought something on your credit card costing more than £100, you can try to make a claim under Section 75 of the Consumer Credit Act.
If you paid for goods that cost less than £100 on a credit or debit card, you may be able to use Chargeback to get your money back.
For products that are faulty, you might be able to claim through a manufacturer or third-party warranty.
Should the business end up falling into administration, you can also register as a creditor for any money owed.
But again, there is no guarantee you'll get your money back.
This basically means you'll be joining a list of people the company owes money to.
Normally customers are at the bottom of the list when it comes to getting any money back.
The cost of repairs for faulty items could still be claimed if they came with a warranty.
You can contact Made.com online, through Twitter or Facebook, if you have any questions.
