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The future of House of Fraser has been thrown into doubt after news that its potential new owner has pulled out.
C.banner, which owns the toy store, Hamley's, had been planning to take a controlling stake in the struggling department store chain, as well as inject £70m of cash.
But the company says it is no longer going ahead with its investment, plunging the chain into crisis.
It is already planning to cut 31 of its 59 stores, with the loss of 6,000 jobs.
House of Fraser agreed a controversial restructuring deal with its landlords in June to cut stores and save money. A legal challenge contesting the process has been made by landlords.
The company currently employs 17,500 people6,000 direct and 11,500 concession staff.
The loss making department store chain is now understood to be talking to new potential buyers.
In a statement, House of Fraser said: "In light of C.banner's announcement (and as per House of Fraser's previous statement to the Luxembourg Exchange), House of Fraser is in discussions with alternative investors and is exploring options to obtain the required investment on the same timetable.
"Discussions are ongoing and a further announcement will be made as and when appropriate."