Bank, a fashion retailer based in Bury in Lancashire, has fallen into administration.
In a short statement Bill Dawson of Deloitte who are now the administrators said: "A review of the business has determined that a solvent turnaround would not be possible."
The chain, which has 84 stores and 1,555 employees, has been loss-making for a number of years, claimed Mr Dawson.
The firm was sold by JD Sports to investment firm Hilco Capital in November. The company had already been approached by several parties who had expressed an interest in the business.
"The administrators are trading as a going concern, with a view to progressing these options and seeking further interested parties for some or all of the business, all stores were open as usual and staff had been paid." he added.
E&OE google.com/+JulianBray All Enquiries 01733 345581 BROADCAST ISDN DIRECT LINK: 01733 345020 [G722 Codec] .