A meat retailer with stores across the Midlands and North of England has closed 35 stores and one distribution centre with the loss of 354 jobs.
In October, South Yorkshire-based Crawshaws said it was attempting to raise equity to restore growth and profitability.
However, it later announced it did not have “sufficient cash resources” to carry out a restructuring.
Administrators EY said 19 “profitable” stores would continue to operate.
According to its latest set of results for the six months to 29 July, the group posted revenue of £21.6m and a pre-tax loss of £1.7m.
EY said the firm had “not been immune to the well-documented issues on the high street” which had “resulted in a number of stores becoming loss-making”.
Administrator Hunter Kelly said: “Despite the new management team’s best efforts, it was not possible to raise additional investment to restructure the business by reducing the number of high street stores and expanding its successful factory shop format and in-store SPAR butchery offering.
“As a result the group would have run out of cash due to the loss making high street stores and therefore administration was necessary.
“It is with regret that 354 people have been made redundant.
“We hope to conclude a sale to preserve the remaining 261 jobs.”
The business first started operating in 1954.
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