Clothes chain Republic is expected to collapse into administration tomorrow, putting 1,000 jobs at risk.
It has already lined up Ernst & Young as administrators.
Republic, owned since 2010 by private equity firm TPG, started in Leeds as a men's denim retailer in 1986 and now has around 120 shops.
Chairman Andy Bond, a former Asda boss, is said to have quit last week after less than two years.
The chain recently hired ex-TK Maxx boss Paul Sweetenham as chief executive.
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