Bathstore has gone into administration after announcing that the company has struggled financially for years.
The Nottingham branches in Ratcliffe Road, West Bridgford, and at The Commodore, Nuthall Road, are among the stores nationwide that are now 'at risk'.
Hundreds of employees who work for the bathroom retailer could also face losing their job.
An inside source has said the announcement was made internally this morning (June 26) following an announcement the bathroom retailer had lost money, MirrorOnline reports.
Ryan Grant, BDO business restructuring partner, said: "Despite significant investment into the business over the past five years, Bathstore has struggled to overcome the well-documented challenges facing the UK retail sector.
"The appointment was made after several months of difficult trading, and the failure of ongoing talks to find a buyer for the business. Bathstore is continuing to trade in administration whilst the administrators seek a buyer."
The bathroom retailer will continue to trade while administrators at BDO seek a buyer.
It was reported last week that Bathstore had been hit by the devaluation of the pound in 2016 and a collapse of consumer confidence in 2017.
Bathstore was set up in 1990 by Patrick Riley and Nico de Beer though it has been owned by billionaire Warren Stephens since 2014.
The company is currently having an 80 per cent off stock clearance sale online.
