Some 40 jobs across the Midlands were in the balance last night after administrators were called in to the Gadget Shop.
PKF accountants and business advisors were appointed yesterday to find buyers for the Hull-based chain.
PKF partners Brian Hamblin and Steve Holgate will handle the practicalities of the English operation.
Mr Hamblin said the business will continue trading while attempts are made to sell it as a going concern.
Around 20 genuine expressions of interest from other retailers interested in buying the sites have been made, said Mr Hamblin.
Nationally, the Gadget Shop employs 742 people across 65 stores.
In the Midlands the company has shops in The Pavilions Shopping Centre in Birmingham; Birmingham International Airport, Bullring, Merry Hill, The Potteries Shopping Centre in Hanley and Darwin Shopping Centre in Shrewsbury.
Chris Gorman, executive chairman of The Gadget Shop, said: OWe have built an exceptional brand in The Gadget Shop. I am confident that a buyer could build on the foundations of that excellent brand and allow the innovation of the business and its products to continue and develop."
