Mobile phone retailer Phones4U has gone into administration placing hundreds of West Midlands jobs under threat.
The company, which was founded in the 1980s by entrepreneur John Caudwell, has appointed as administrator as its 550 stores are expected to close today.
Phones 4U is still headquartered in Staffordshire and has shops in Coventry and among others across the region while nationally it employs just under 5,600 staff - all of whom are now facing possible redundancy.
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The company said today it was forced into administration after network EE withdrew its supply of phones to the chain, following a similar move by Vodafone earlier this month.
Phones 4u said the decision by EE not to renew its current contract, which is due to end in September 2015, was a "complete shock" and meant it would be left without a single network partner.
The company is owned by private equity firm BC Partners.
Phones 4u chief executive David Kassler said: "Today is a very sad day for our customers and our staff. If the mobile network operators decline to supply us, we do not have a business.
"A good company making profits of over £100 million, employing thousands of decent people has been forced into administration.
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"The great service we have provided should have guaranteed a strong future but unfortunately our network partners have decided otherwise.
"The ultimate result will be less competition, less choice and higher prices for mobile customers in the 海角视频."
Staff have been asked to report to work as normal today where they will be briefed by management.
John Caudwell, who sold the business for £1.5 billion in 2006, told the Daily Telegraph : "It seems a shame that a business I spent 20 years of my life growing looks like it could come to such a sticky end."
He later tweeted: "I am sickened and saddened for nearly 6,000 wonderful employees who made Phones 4u into a great business."
All mobile contracts bought through Phones4u will remain unaffected and the networks will continue to provide mobile services to these customers.