The 14-store chain, owned by Icelandic investor Arev, is believed to have lined up Zolfo Cooper as administrator after Arev pulled any future funding from its retail investments, which also include Jones the Bootmaker and Mountain Warehouse.
Other Arev investments have also fallen into administration in recent months including Hardy Amies and Ghost.
Blooming Marvellous’s website is currently down due to what it describes as "technical difficulties".
Arev was set up by former chief of Baugur's international operations Jón Scheving Thorsteinsson and was hit hard by the banking collapse in Iceland.
Blooming Marvellous was bought by Arev in 2007 for around£5 million.