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It failed and was left with little choice but to file for administration.
"In light of the recent action taken by RDA UK to file for administration, parent RDA expects to emerge from Chapter 11 promptly," RDA said.
Conviviality, which owns Wine Rack and Bargain Booze, has 2,500 staff and supplies more than 23,000 restaurants, hotels and bars, is to file for administration.
When it became clear to the board late on Monday afternoon that they had no option than to file for administration, they issued immediate instructions to all stores to stop selling gift cards".
The company said a notice of intent to file for administration had been handed in at the high court with the formal appointment of administrators expected early next week.
A notification of the company's intention to file for administration was lodged at the high court last night and staff were told at meetings this morning that the store chain was about to fold, putting thousands of jobs at risk.
Similar(45)
Why is Baugur filing for administration?
LDV Brown is asked about LDV, the van maker that filed for administration today.
Coincidentally, Portsmouth's parent company, Convers Sport Initiatives, separately filed for administration on Tuesday.
The fifth-largest, Habitat, has joined the giant Martinsa-Fadesa among those filing for administration.
On Monday, Mosaic filed for administration as part of a rescue package brokered with its biggest creditor, Kaupthing.
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CEO of Professional Science Editing for Scientists @ prosciediting.com