Convenience store chain Alldays said it had failed to secure a buyer for the business despite considerable interest.
The group, which has bank debts of £179m, said none of the offers was acceptable.
In a separate announcement, the company, which has shops throughout Oxfordshire, said its retail division managing director David Clapham was leaving the company only 15 months after joining from Sainsbury's. No reason has been given.
Full-year figures showed losses before tax and one-offs widening to £14.7m from £5.9m last time.
Like-for-like sales during the 12 months to October 29 picked up four per cent, but sales have since fallen below expectations.
Pre-tax losses, including £50m of one-off items, came in at £64m against a £90.7m loss last time.
Executive chairman George Duncan said new banking facilities had been secured and the store portfolio was now a more manageable and cost-efficient structure.
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