Retailer Passion for Perfume has gone into administration with the loss of 194 jobs.
The Manchester-based firm has appointed administrator Deloitte after managers failed to find a buyer for the struggling business.
Deloitte said Passion for Perfume made 185 store staff and nine head office staff redundant on New Year's Eve.
The firm traded online and from 45 stores across the UK, which are already thought to be closed.
All staff made redundant are understood to have been paid in full, according to Deloitte joint administrators Bill Dawson and Ian Brown.
Falling demand
They will now seek to find a buyer for the business and assets of the company.
News of the collapse emerged on Monday - the same day as ceramics firm Waterford Wedgwood - and follows the demise of a number of other high street retailers.
Woolworths, childrenswear chain Adams and entertainment retailer Zavvi are among those to be placed in administration in recent weeks.
Deloitte said Passion for Perfume had been struggling amid challenging trading conditions and reduced consumer demand.
The chain was owned by Manchester-based property developer and entrepreneur Brendan Flood, Nigel Tobias and James Michael Riddell, who launched the business in 2004.
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