Carpetright is on the brink of collapse, putting more than 1,800 jobs at risk.
The retailer has filed a notice of intention to appoint administrators while it tries to secure extra funding.
Advisory firm PricewaterhouseCoopers (PwC) has been lined up, but not yet appointed, to handle the administration of the company.
The company said it had “begun promising conversations with interested parties” and that its 272 stores would remain open for now.
Kevin Barrett, boss of Nestware Holdings, which owns Carpetright and several other retailers, said its restructuring plans were hit by a slump in April trade caused by a cyber-attack.
“This has resulted in the company seeking a period of protection whilst sale negotiations proceed.”
He added that its main priority was ensuring that “as few customers and colleagues are impacted as possible”.
The firm, one of the UK’s biggest flooring retailers, has also been hit by slowing customer demand.
Retailers trying to sell big-ticket items have faced a particularly tough time as consumers focus on everyday essentials.
The company has been given 10 days’ breathing space to try to find a buyer.
It is no stranger to difficult times, having gone through a form of insolvency proceedings six years ago to cut costs.
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