Quiz clothing is close to collapsing as it continues to struggle with rising taxes and mounting costs.
The Glasgow-based retailer has reportedly filed a Notice of intention to appoint administrators, putting around 1,000 jobs at risk across its 40 stores.
This would mark the third time in six years that the fast fashion store - which has a presence in Aberdeen's St Nicholas centre - has been put into administration by shareholders.
The move follows reports earlier this week that the company was seeking urgent funding after "disappointing" Christmas sales.
The Telegraph reports that Quiz had been exploring several options, including securing new finance and possible store closures.
A company spokesman said: “We have taken the decision to file a Notice of Intention in order to provide us the time we need to explore all financing options. In the meantime, all our stores remain open with business as usual.”