Ten stores of the women's clothing chain, Staxs, have been placed in receivership.
RHB Chartered Accountants has been appointed receiver of the stores, owned by Topsco International NZ.
A second company, Amethyst, owns another 11 stores, which are not part of the receivership.
One of the receivers, Kenneth Brown, says at least nine stores will be closed by Monday night, with the loss of about 35 jobs.
He says Topsco has few external creditors, and the store closures can be blamed primarily on tough trading conditions.
Clearance sales will be held at the stores in Onehunga, Nelson and Hornby over the weekend.
Another outlet, in Dunedin, may be sold as a going concern.