Popular home store Wilko has warned it is on the brink of collapse, putting around 12,000 jobs at risk.
The UK homeware company filed a notice of intention to appoint administrators at the High Court on Thursday.
Wilko employs staff across around 400 stores in the UK, with two in Milton Keynes. One can be found at Kingston retail park, with another in Bletchley.
Wilko chief executive Mark Jackson said: "We'll continue to progress discussions with interested parties with the aim of completing a transaction which preserves the business.
"We continue to believe that our robust turnaround plan, with significant re-stabilisation cost savings in progress, will deliver a profitable Wilko and maximise the significant opportunities that we know exist."
Sky News reports that the retailer has emerged as one of the 'first major victims' of Britain's tougher economy.
