Community leaders have lamented the news that Sudbury's Homebase store will not be rescued, dealing a "devastating blow" to staff just before Christmas.
The DIY retailer, which lost £84.2million last year, was sold to retail group CDS, which owns The Range in a rescue deal that secured up to 1,600 jobs and 70 stores.
However, the company appointed administrators at Teneo on Wednesday who placed 74 leasehold stores on the market - including the units in Bury St Edmunds and Sudbury.
In a joint statement following the news, Sudbury town councillors Adrian Stohr and Kevin Graham said: "We’re really saddened to hear that Sudbury’s Homebase store will not be part of a planned rescue by owners of The Range.
"This is incredibly tough news for the loyal and hardworking staff there and for all those who depend on them. It will be particularly hard news, coming as it does, in the run up to Christmas. Our hearts go out to them.
"We understand that there is still a little time for another buyer to come forward and save the store and the jobs, there. We hope and pray that this does happen."
The pair said they will do whatever they can to help and added: "Closure of the store would be a devastating blow to all those who work there and a loss to the whole community in Sudbury."
Mr Graham, who also sits on Great Cornard Parish Council, added that the impact of closure, if it happened, would be felt far beyond the town of Sudbury itself.
“This will affect the lives and livelihoods of folk for many miles around," he said.
The Felixstowe and Newmarket Homebase stores are not included in the list of units up for sale.
The Homebase site in Lowestoft was purchased by Sainsbury's earlier this year and is understood to be closing in December.
Potential buyers have until Friday, November 29, to purchase the remaining stores in efforts to secure more funds for creditors.
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