Bailiffs have visited some 12 JJB stores after landlords failed to pay rents at the sportswear retailer.
JJB Sports, which is backed by Icelandic insurance group Exista, is understood to owe at least £500,000 on empty stores for which it is still liable for the lease, according to reports.
Landlords are thought to be seeking a statutory demand for outstanding payments, which gives JJB two weeks to pay before a creditor can begin bankruptcy proceedings.
JJB is understood to have sent landlords post-dated cheques, prompting landlords to question JJB's ability to pay its bills.
A spokesman for JJB said the company had paid its rent in full and in a timely manner with all operational stores and was in negotiations with landlords regarding a handful of stores which have ceased trading.