Feather & Black (F&B) has been placed in the hands of administrators, less than a week after the collapse of another firm owned by the same Midlands businessman.
The household furnishings brand, like Multiyork, is continuing to trade while Duff & Phelps hunts buyers for both brands which collectively employ 573 staff.
The administrator said 123 jobs were at risk at F&B, which operates online as well as from 25 stores across the UK.
Joint administrator, Allan Graham, said: “The Joint Administrators are trading Feather & Black in Administration in the short term with a view to finding a purchaser for the business as a going concern.
“We are confident that a buyer will be found and encourage any interested parties to come forward.
“The current intention is for all orders made before 27 November to be honoured and customers will be contacted in due course with updates relating to these orders as required.”
He explained that, like at Multiyork, F&B had found trading “tough” given the Brexit-linked squeeze on household budgets.
The Sunday Times had reported in September that furniture tycoon Charles Wade had sought to sell the businesses ahead of the peak Christmas season.
The administrator said F&B could “no longer meet on-going liabilities.”