The jobs of Worksop workers at the local Priory Centre branch of Peacocks and Bridge Place branch of Bonmarche now hang in the balance.
Peacocks has more than 600 stores and concessions in the UK, and 117 other stores around the world.
It also bought the Yorkshire-based retailer Bonmarche 10 years ago.
The parent company The Peacock Group said it would seek a potential buyer for Bonmarche, which includes some 394 stores, but would appoint an administrator in the meantime.
A spokesman said: “Regarding Peacocks, talks have now concluded and no agreement has been reached.”
“However, discussions with other potential investors are on-going.”
He continued: “To protect the business whilst discussions with such investors are progressed, the Directors of The Peacock Group have filed a notice of Intention to Appoint an Administrator.”
They added: “The Board believes Bonmarche will be better positioned under different ownership and is in advanced and exclusive discussions with a potential purchaser. To protect the business whilst this sale process completes, we have filed a notice of Intention to Appoint an Administrator for Bonmarche too.”
Spokespeople from the Worksop branches of Bonmarche and Peacocks were unavailable for comment.”