The children's clothing retailer Pumpkin Patch has appointed Deloitte as administrators in the UK.
The Reading-based company has 36 stores in the UK, employing about 400 staff.
Deloitte said it had been necessary to close five stores, with 60 employees being made redundant, though the rest of its stores would continue to trade while options are pursued.
Its parent company is based in New Zealand. The administration only affects UK operations.
Deloitte said the company had "suffered as a result of the unprecedented and prolonged downturn being experienced in the UK retail sector".
"We encourage all parties to remain supportive while we continue to trade the business, thus providing the best possible platform for us to preserve jobs and value for all creditors," Daniel Butters from Deloitte said.
The announcement comes a day after clothing retailer Peacocks confirmed that it had gone into administration.