Thousands of jobs are at risk after it emerged lingerie firm La Senza could go bust.

The chain has called in restructuring accountants from KPMG to consider its options as it struggles to manage costs during the high street downturn.

According to Sky News, even if the firm manages to avoid administration, some of the 158 stores could be closed.

Rebranding is also one of the options reportedly being considered.

The business is owned by private equity house Lion Capital, and was purchased from Dragon’s Den entrepreneur Theo Paphitis for £100 million in 2006.

Celebrities who have fronted campaigns for the store include Danielle Lineker, Emma Hemming, Tess Daly and Chantelle Houghton.

The firm turns over £140 million a year and has more than 2,600 staff.

The news comes a day after retail guru Mary Portas warned Britain’s high streets have reached ‘crisis point’.

In a report commissioned by David Cameron, Ms Portas made 28 recommendations to halt the decline.

It’s been a grim month for British retailers with the collapse of Barratts shoe store last week, and the news that Peacocks is looking to close around 200 stores.