Carpetright is on the brink of collapse, putting more than 1,800 jobs at risk.
The retailer has filed a notice of intention to appoint administrators while it tries to secure extra funding.
Advisory firm PricewaterhouseCoopers (PwC) has been lined up, but not yet appointed, to handle the administration of the company.
The company said it had “begun promising conversations with interested parties” and that its 272 stores would remain open for now.
Kevin Barrett, boss of Nestware Holdings, which owns Carpetright and several other retailers, said its restructuring plans were hit by a slump in April trade caused by a cyber attack.
“This has resulted in the company seeking a period of protection whilst sale negotiations proceed.”
He added that its “main priority” was ensuring that “as few customers and colleagues are impacted as possible”.