The owner of Bargain Booze is poised to tumble into administration putting 2,500 jobs at risk.

Conviviality had released a string of profit warnings this month and its chief executive Diana Hunter stepped down less than a fortnight ago.

It is the latest in a string of high street names to fall into trouble since the turn of the year, following the collapse of Toys R Us and Maplin, as well as debt restructures by New Look and Prezzo.

Bargain Booze has stores in Herne Bay, Maidstone, Sittingbourne and Ramsgate.

Conviviality announced yesterday that efforts to raise £125 million with investors had been unsuccessful.

Instead, it planned to sell all or parts of the business leaving shareholders with "little-to-nil value".

It confirmed this morning its intention to appoint administrators within 10 days.

It will continue to trade normally in the meantime.