Hairdressing chain, which has a shop in intu Victoria Centre, is under threat with administrators being lined up.
Supercuts is on the brink of collapse, according to the Press Association.
The news comes less than a year after bosses attempted to persuade landlords to give the company heavy rent cuts.
This means 1,400 jobs across 223 salons are under threat.
It is thought that the sites will continue to trade while a potential buyer is sought.
Administrators from Deloitte are being lined up, with confirmation expected on Friday morning (October 25).
Supercuts is based in the Upper Mall of the intu Victoria Centre and is open seven days a week.
The chain has been struggling for the last few years and went through an insolvency process known as a Company Voluntary Arrangement (CVA) in 2018.
It meant the company, which is owned by Regis UK, could cut its rents in an attempt to stay afloat.
The CVA process has been widely used by several high street names in recent years, including Arcadia, New Look, Mothercare and Carpetright.
But it has faced criticism from some landlords who claim it is being used as a way to cut rents, instead of only being used to prevent a firm from collapsing.
Regis said at the time that a "perfect storm" of factors, including falling customer numbers and higher wages, had hurt the business.
Deloitte declined to comment. Regis could not immediately be reached for comment.
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