Half the workers at a family-run department store in a Northamptonshire town have lost their jobs after the firm went into liquidation.
Wills of Rushden, which has traded since the 1930s, made 20 members of staff redundant and a further 20 could lose their jobs if it closes.
Liquidators Marshman Price said the High Street store would continue to trade in the short term.
It said it was considering offers from two potential buyers.
Helen Wills Ltd had been struggling financially for some time on the back of the recession and falling demand.
Insolvency practitioner Alan Price said: "We were called in by the directors who were concerned that continued trading losses could not be curbed.
"The business had effectively run out of spare cash and had no money to buy any more stock.
"We have looked at various options to try to save the business, which will continue to trade in the short-term while we try to find a purchaser."
"Regrettably we have had to make 20 people, around half of the work force, redundant to ensure continued trading is economic and we are reviewing the position daily. "
In November 2009, the Peter Crisp Department Store in Rushden closed with the loss of 35 jobs.