Oddbins' owner has warned staff of job losses as the off-licence business is reported to have appointed advisers to examine future options.
The move comes after an “extremely tough” Christmas, it is claimed.
In an email to staff at European Food Brokers group, which also includes Wine Cellar Trading and Whittalls Wine Merchants, directors said they had concluded that its retail businesses “cannot continue in their current form” and may have to be sold, the Guardian reported.
The email reportedly said Duff & Phelps, an advisory firm that specialises in administration, had been appointed to consider a way forward for the group, which employs more than 500 people.
The company that owns the Oddbins off-licence chain, which has 45 UK stores, is preparing to appoint administrators in a move that puts hundreds of jobs at risk.
West Midlands-based EFB confirmed it had filed "a notice of intention" to appoint Duff & Phelps following an earlier report by Sky News.
"The deterioration of the high street, combined with the continuing economic uncertainty surrounding the withdrawal of the UK from the EU, has resulted in an unsustainable, tough physical retail market," it said.
"We will endeavour to continue to operate all stores as a going concern while options are assessed for the business, including a possible sale," it added.
The businesses affected include Wine Cellar Trading Limited and Whittalls Wines Merchants.
Oddbins went into administration in 2011 after HM Revenue & Customs refused to support a deal with creditors.
EFB, which is run by businessman Raj Chatha, bought some of the Oddbins stores at the time through its Whittalls subsidiary.
Domino's Pizza had the busiest week in its history in the run up to Christmas, selling 12 pizzas a second.
However, it expects full-year underlying pre-tax profit to be at the lower end of the consensus range of £93.9 million to £98.2m, due to business integration challenges in Norway.
The pizza delivery giant said as a result of weaker sales in the fourth quarter in a number of markets, which were affected by the weather, and the challenges in Norway, it expects the international business to make a loss of £3m to £4m for 2018.
Domino's Pizza said that sales in the UK and Ireland were strong and rose 6.2 per cent in the fourth quarter to £312.9m. In the UK, system sales rose 6%, with like-for-like growth, excluding stores in split territories, of 4.5%.
Group system sales increased 5.5% to £339.5m.
System sales for the international business declined 2% to £26.6m.
David Wild, chief executive of Domino's Pizza, said: "I'm pleased with the continued strong performance in the UK and Ireland, where we opened a further 59 stores.
"Many families decided to kick off the festive season with a Domino's, with the Friday before Christmas breaking all records as we sold more than 535,000 pizzas - equivalent to 12 every second."
Imperial Leather owner PZ Cussons has seen shares tumble after warning over profits amid mounting woes in its Nigerian business.
Shares dropped as much as 13 per cent after the group said underlying pre-tax profits are now expected to be "towards" £70 million, down from £80.1m a year earlier.
PZ - which also owns St Tropez sun tan lotion and Original Source shower gel also cautioned over the consumer outlook globally, saying consumers are set to remain under pressure across all its markets.
The warnings came as PZ Cussons reported a 20.3% fall in statutory pre-tax profits to £26.7m for the six months to November 30.
On an underlying basis, interim pre-tax profits fell 1.5% to £32.8m, or rose 1.5% on a constant currency basis.
Caroline Silver, chairwoman of PZ Cussons, said: "The macroeconomic conditions in Nigeria remain extremely challenging and continue to have a significant negative impact on overall group performance."
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