Shoppers visiting furniture superstore MFI in Botley Road, Oxford, were greeted with closing down banners.
The Oxford store was one of 81 put into administration following a management buy-out of the troubled retailer earlier this month.
Until the buy-out, MFI had 192 stores nationwide and 2,500 employees.
Now about 12 Oxford workers face possible redundancy if no buyer comes forward. A spokesman for administrators Kroll said: "Following the administration of MFI Retail Limited and MFI Properties Limited, the joint administrators confirmed that purchasers for the remaining 81 MFI stores have not yet been identified and therefore a wind-down of some of those stores has commenced."
Fraser Gray, partner at Kroll's Corporate Advisory & Restructuring Group, added: "All employees have been made aware of the situation and we are grateful for their ongoing understanding and support throughout the administration process."
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