The troubled Budget DIY chain is in a precarious state, administrators admitted tonight.
With the future of almost 200 jobs in the Noprth in serious doubt, PricewaterhouseCooper warned the next 24 hours would be crucial.
Joint administrator Garth Calow said the company was in dire financial straits. "We are resolving matters on the ground to ensure staff are paid what they are due. But Budget DIY has substantial creditors and little cash," he said.
"The company has increasingly relied on sales income from the individual stores with limited stock, and has recently been operating on a day-to-day basis.
Around 187 jobs are at risk at the six stores across Northern Ireland. The businesses are in Bangor, east and west Belfast, Newtownabbey and Londonderry. Staff were told the news last Friday. The company has been operating since 1983.
Budget DIY has suffered significant losses in recent years because of growing competition from rivals like B&Q and Homebase.
Last March, the share capital of the company was acquired by Star Trading Ltd, a wholly-owned subsidiary of the Manchester-based Hilco Group.
Prior to the acquisition, Budget DIY closed a loss-making seventh store in Cookstown, Co Tyrone.
No new stock is being introduced to Northern Ireland stores and staff have been told earlier attempts to find a new buyer had been unsuccessful. There has been no formal notice of job losses.
Mr Calow added: "The immediate future will be determined by revenues generated by the Budget DIY retail units."