Betta Living, which sells kitchens, bedrooms, and wardrobes, was set up in 1966 and has retail outlets in more than 70 towns.
On its website the firm, posted: “As at Friday 4th November Betta Living has made an application to appoint an administrator.
“We anticipate the administrator will be appointed next week and will consider all options to try and secure the continuation of the business but at present Betta living has temporarily ceased to trade.”
The company’s headquarters are at Suthers Street, Werneth.
Betta Living was formed under the name ‘Betta Bedrooms’ and remained that way until in 2000 it was taken over by current chairman, Noel Dean.
Mr Dean, a long-time retail expert who previously worked for the Burton Group, merged Better Bedrooms with his own company, the English Kitchen Company which he started in 1984.
Last week Betta Living was offering up to 70 per cent off the price of kitchens ordered before Christmas.
One Betta Living employee said: “On Friday Noel Dean told his staff the company was in administration and the business closed its doors. The administrators are in today and it is reported that they have gone down with debts of £18m but not confirmed.”
In 2012 the company opened a store in the Trafford Centre after the launch of an outlet in Manchester city centre in Deansgate.
That year, despite the economic slowdown, Betta Living’s high-quality ranges and reputation for attention to customer service have helped them buck the business trend and achieve a 24 per cent uplift in year-on-year sales and grow their market share.
Betta Living has a retail presence in more than 70 towns and cities throughout England and Wales, including 16 showrooms and 80 mobile design consultants.
An automated message announcing the company is to appoint an administrator has been left on the company’s phone line.
Anthony Collier, joint administrator and partner at FRP Advisory, said: “We are currently working with all stakeholders to see if we can find a solution that rescues the business and would ask any parties interested in any aspect of the business to make contact as soon as possible. Betta Living is a business with a strong brand and is well known up and down the country.
“At present the business has however ceased to trade and orders are not currently being despatched. We will be reviewing the order book and writing to individual customers this week.”