Watch retailer Clive Ranger has fallen into administration.
Deloitte has been appointed as the administrator with Paul Evans leading.
Clive Ranger has suspended its online business, and has shut down the social media pages it previously hosted on Twitter and Facebook.
It is believed that the retail stores in Cardiff, Swansea, Bristol and Bath are still operating as normal under Deloitte, although stock at the store in Bath is being heavily discounted by between 50% and 75%.
Clive Ranger, which is run by directors Richard Slack and Richard Thomas, has started to inform its suppliers of the administration this week but as yet no official announcement has been made.
Sources close to the retailer told WatchPro that they believe Deloitte will try to find a buyer for the business.
Deloitte and Clive Ranger were unavailable for comment.
