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Discount retailer Poundworld is predicted to nominate directors, placing 5,100 jobs in danger.
Talks with a potential purchaser R Capital have collapsed which means that the chain felt it had no different possibility however to place the corporate into administration.
Poundworld, which has 355 shops, and serves two million prospects a week, additionally trades beneath the Bargain Buys model identify.
Deloitte is predicted to be appointed to supervise the administration.
It might be hoping to promote the enterprise as a going concern.
Poundworld has been dropping cash for the previous two years. Losses for the monetary 12 months 2016-17 have been £17.1m, up from £5.4m the 12 months earlier than.
Like many retailers, Poundworld has been hit by falling client confidence, rising overheads, the weaker pound and the expansion of on-line procuring.
Retailers together with House of Fraser, Maplins, Toys 'R' Us, Mothercare, Carpetright plus a string of restaurant chains have hit the headlines this 12 months due to trading bother.
Poundworld, which has its headquarters in West Yorkshire, was shaped in 2004, nevertheless it says it might probably hint its origins "back to 1974 and a market stall in Wakefield, West Yorkshire".
Investment firm TPG, which purchased a majority stake in Poundworld in 2015, additionally controls the restaurant chain Prezzo whose landlords and collectors agreed a restructuring final month.
A proper administration announcement might be made at 10am when the court docket opens.