Fashion retailer Internacionale is set to go into administration within the next few weeks, risking the loss of 1,500 jobs unless a buyer is found according to reports.

The chain currently operates 97 stores across the UK but is thought to be losing up to £10 million a year.

Half of the staff at Internacionale’s head office were cut when corporate restructuring specialist FC Fund Managers took control of the company last week. The business has been struggling since 2011 and narrowly avoided administration last July.