New Look has failed in attempts to secure a sale of the business, putting its future in the hands of landlords set to vote on a restructuring deal next week.
The company warned that it could be forced to consider "less favourable alternatives", which are understood to include liquidation, if creditors do not back its proposals.
Last month, the fashion chain said it was canvassing sales interest in a bid to secure its long-term future. However, it revealed on Wednesday that a deadline for bids passed on Tuesday without progress after no bids were made for the whole firm.
The company's future will now rely upon securing backing from landlords for its company voluntary arrangement (CVA) proposals, which go to a vote on September 15.
Read more on mirror.co.uk