Select has fallen into administration, placing 1,800 jobs under threat. The retailer has 169 stores across the UK.
The fashion chain has been struggling in recent years amid dwindling sales and an increasingly tough trading environment for UK retailers.
Select is owned by Turkish businessman Cafer Mahiroğlu, who bought the chain out of administration back in 2008.
Quantuma have been appointed as the administrators to oversee the company’s wind down.
Andrew Andronikou, joint administrator at Quantuma commented: “We will continue to trade Select whilst we assess all options available to the business, with the aim of achieving the optimum outcome for all stakeholders,”
“Options include a sale of the business, in addition to entering into discussions with those parties who have already expressed interest in acquiring the business.”
Select, which caters to women ages 18-35, entered a company voluntary arrangement to reduce rents only a year ago, before succumbing to administration this week.
It is just one of many retailers who have been feeling the adverse impact of falling footfall, lower discretionary spending and rising rent costs.
Earlier last month high-end fashion chain LK Bennett also collapsed into administration, eventually to be bought out by its Chinese franchise partner, Rebecca Feng.
Similarly, café chain Patisserie Valerie went into administration back in January, amid a series of accounting errors and difficulty paying back loans.
Traditional brick and mortar retailers have been ultimately struggling to compete as shoppers turn to the ease of online, with companies such as Amazon coming out on top.
Select in particular has struggled to carve out a name for itself amid the rise of online fashion brands such as Pretty Little Thing and Boohoo.