The management team has remained locked in talks regarding a potential new backer.
Dolcis boss John Kinnaird wanted a deal to be completed this week and said he was confident the potential investor would have indicated already if they did not want to get involved.
Kinnaird has been seeking a new investor since the end of December, when Epic Private Equity pulled out. He bought Dolcis from Alexon, with the backing of Epic, for£2.7 million in December 2006.
Separately, Stead & Simpson has sold its Famous Footwear chain, marking the first part of the sale of its business.
Famous Footwear, its 25-store factory outlet arm, was bought by supplier Jacobson Ventures, a new company created by Harvey Jacobson. He and his family are the main shareholders in Jacobson Group, a supplier to footwear retailers. They own a stable of footwear brands including Gola, Lotus, Frank Wright and Ravel.
Jacobson said: “Famous Footwear provides an opportunity to clear any excess stock without harming our brands.”
The remaining Stead & Simpson business, including Shoe Express, is likely to be sold piecemeal. One option is that a buyer may purchase the best-performing parts of the business as part of a pre-pack administration.