It became increasingly apparent the prospect of selling the chain in its entirety was becoming remote Tom Burton, Joint administrator

The company was already in the hands of administrators who decided to shut down the chain after failing to find a buyer to take it on as a going concern.

The stores sell cheap clothes, toys and household goods but they have come under increasing pressure from competitors in the discount market.

Joint administrator, Tom Burton, said everything had been done to try to sell the firm.

Redundancies

"We pulled out all the stops, issuing 90 sales packs to all those expressing an interest in the business, but it became increasingly apparent the prospect of selling the chain in its entirety was becoming remote.

"The majority of the interest was in the chain's stock and properties and a significantly higher outcome is anticipated for these, rather than for the business as a going concern.

"This left us with no option but to organise the orderly winding-down of operations and structured disposal of stock and properties."

What Everyone Wants is based in Glasgow but has 130 stores all over the UK.

It employs more than 2,500 people, and most will carry on working for the company while it sells off its stock.

Mr Burton said the statutory redundancies which would follow were "deeply regrettable".

The firm said its turnover was about �95m ($153m) last year.