BRITISH Home Stores is set to enter administration this morning, putting hundreds of jobs in the north at risk.
It comes after talks with Sports Direct to sell some of its 164 UK stores collapsed over the weekend.
BHS has four stores in Northern Ireland - in Belfast city centre, Abbeycentre, Bow Street Mall in Lisburn and Holywood Exchange.
However, any prospective buyer would have to take on a business model described as a "bit dated" by one retail analyst and pick up the bill for a £571 million pension deficit.
If the company does enter into administration, it will bring to an end 88 years of trading.
On Friday, BHS had denied speculation it was on the brink of collapse.
A total of 11,000 jobs could be lost if a buyer is not found by the company, which has been fighting to stay open amid mounting £1.3 billion debts.
The Topshop owner Sir Philip Green sold the store for £1 last year, having bought it for £200m in 2000.
In a letter to staff, BHS owner Dominic Chappell wrote: "It is with a deep heart that I have to report, despite a massive effort from the team, we have been unable to secure a funder or a trade sale."
