Discount menswear chain The Officers Club has appointed KPMG to find a buyer for the business.
KPMG is understood to be marketing the 150-store Officers Club chain as a distressed sale.
Officers Club has stores in high profile locations including London's Oxford Street, Merry Hill shopping centre in the West Midlands and Braehead shopping centre in Glasgow.
The company made a loss before tax of £794,000 for the year to August 31 2007, on sales of £52 million.
The news comes as high street retailers brace themselves for a extremely tough trading environment in the new year, and having to make rent payments on quarter day on Christmas Eve.
The weekend newspapers reported that there would be up to 15 retail casualties by the middle of January.