Online retail giant Studio has reportedly fallen into administration, with 1,400 jobs at risk.
The firm appointed administrators Teneo after failing to secure a £25million rescue loan, The Times newspaper reports.
Studio sells a wide range of products, from clothes to toys to electrical goods.
Parent company Studio Retail Group, which is a third owned by Sports Direct boss Mike Ashley, filed a notice of intention to appoint administrators on February 14 and suspended shares on the London Stock Exchange.
Studio is valued at £100million, and it made more than £500million in sales last year, with a £41.7million pre-tax profit.
But it has previously warned of problems with rising shipping costs and delays to transport, which lumbered the firm with higher stock levels than normal.
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In a statement, Studio previously said it wants to appoint administrators "as soon as reasonably practicable".
Studio Retail Group said: "Following detailed discussions with our UK lenders, the company has not been able to reach agreement with them to provide the additional funding Studio requires.
Teneo and Studio have been approached for comment.
Studio hasn't said if customers will receive their orders or if they'll be refunded, or if they can return items - but its website currently isn't taking any new orders.
A notice reads: "Sorry, we're not taking any orders at the moment. We'll provide updates as soon as we can."
If the company does stop trading, you may have to apply to the administrator to get your money back.
You may also be able to use other methods of reclaiming your cash, such as using Section 75 of the Consumer Credit Act or the Chargeback scheme .
Section 75 can be used for credit card spends that have gone wrong, for purchases worth between £100 and £30,000.
This is because the Consumer Credit Act dictates that your card provider is jointly liable, as well as the company you purchased from.
Debit card payments, cheques and transfers not covered by the Consumer Credit Act might qualify for the Chargeback scheme instead - but sadly this isn’t enshrined in law.
What does it mean when a company goes into administration?
When a company goes into administration, it doesn't necessarily mean the end of the business.
As part of the process, an appointed licensed insolvency practitioner will be put in charge of managing the firm.
It will be their job to try to help find ways to repay debts, solve its cashflow problems or find a new owner.
This can last anywhere from a few weeks to up to a year or more - so it can be a lengthy ordeal.
But if the administration process can't rescue the company or find a new owner, this usually leads to liquidation.
Liquidation is the process of selling all assets and then dissolving the company completely.
