Camera shop Jessops is to close at the end of trading today.
The chain, which has branches in Gloucester, Cheltenham and Cirencester, will shut all 187 stores today.
PricewaterhouseCoopers (PwC), which was appointed as administrator after funding talks with its lender and suppliers collapsed, said Jessops' demise was attributed to poor Christmas sales and it had also seen a "significant decline" in its market in 2012.
Rob Hunt, joint administrator and partner PwC this afternoon: "Since my appointment, we have reviewed the position of the business and held extensive discussions with suppliers around their support for ongoing trading.
"It is apparent that we cannot continue to trade and as a result we have had to make the difficult decision to begin the closure of all 187 Jessops stores at the close of business today.
"Regrettably, this will result in around 1370 job losses across the stores with further job losses likely, in due course, at the head office in Leicester.
"The stock will be collected over the coming days and returned to a central warehouse. It will be returned to suppliers if they are entitled to it. As a consequence of the closure, Jessops is no longer able to accept returned product from customers.
"This is an extremely sad day for Jessops and its employees. We are very grateful for the support we have received since our appointment and we will continue to ensure that employees are paid as they assist us during the closure."
Staff at the Gloucester branch said earlier this week they had only found out the chain had gone into administration after phonecalls from The Citizen.
Twitter went into overdrive as the announcement was made this afternoon. Graham Hodson tweeted: "Just been asked to leave Jessops store. "Gone into liquidation" said the apologetic salesman. #jessops