Peacocks in Market Place, and Bonmarche on Market Street, are owned by the Peacock Group.
A spokesman said: “Talks have now concluded and no agreement has been reached. However, discussions with other potential investors are on-going. 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.”