Studio Retail Group, the online trader whose largest shareholder is Mike Ashley's Frasers Group, is set to call in the administrators.
The Lancashire-headquartered listed company has made the move after warning its profits are set to be lower than market expectations and is to raise its prices.
In a statement issued at the end of January, the business said its adjusted pre-tax profits for its full financial year are not likely to be between £28m and £30m, down from the current market expectation of £35m.
