Whittard of Chelsea, the tea and coffee retailer, has lined up Ernst & Young as administrators, a source close to the company confirmed.
The source added: “Whittard is still trading and it has not filed for administration yet. It’s still talking to potential buyers. “Ernst & Young have been appointed as administrators though should it go into administration.”
With only two days left of business before Christmas, stores are hoping to encourage shoppers to spend amid claims up to 15 major retailers could be in danger of going under.
Stores are launching their traditional Boxing Day sales up to 48 hours early in a bonanza for shoppers already enjoying a heavily discounted high street.
A growing list of major stores have announced discounts of 50 per cent or more in sales to start as early as 7am on Christmas Eve.
DIY chain B&Q will offer 50 per cent off all its kitchens and bathrooms from 7am tomorrow in stores and online, with discounts of up to 75 per cent on some other items.
John Lewis will start its clearance sale online at 6pm on Christmas Eve - the earliest it has ever held the sale - while chemist chain Superdrug will also start an online sale a few hours later at midnight on December 24th with discounts of up to 90 per cent.
Fiona Wilkinson, senior vice president at Visa Europe, said: “Consumers have proven this weekend that they are prepared to postpone their shopping until the last minute in order to take advantage of the many bargains now available on the high street.
“We are now predicting that consumers may continue their late spending right up until Christmas Eve.”
Traders reported a successful weekend and said they were also hopeful the trend would continue through to Christmas Eve.
Norman Black, spokesman for Brent Cross Shopping Centre in London, said it had been the busiest weekend of the year, but warned the sales boost may have come too late to beat total Christmas figures for last year.
“The last couple of days have been excellent,” he said. “But Christmas has come very late and we would still expect to be behind last year in terms of the amount of money we will take.”
He said the shopping centre expects to see 200,000 people through its doors between now and close on Christmas Eve, spending a predicted total of £16 million on last-minute gifts and shopping.
Matthew Sherwood, senior economist at analysts Experian, said he didn’t see “too much hope” for retailers in 2009.
“I think it’s going to be a very bad year for retailers and we’re likely to see more announcements like we’ve seen with Woolworths and MFI,” he added.
Nick Hood, partner at corporate rescue and recovery specialists Begbies Traynor, said: “I would not be surprised if between 10 and 15 national and regional chains collapsed before the end of January.”