The Sunday Times reports that founder Martin Morales is working with RSM to find a last-minute buyer for the London-based business.
Morales launched the first Ceviche in Soho in 2012 and now operates six sites under the Ceviche and Andina brands.
Recent accounts for the group filed at Companies House blamed falling sales on “growing uncertainty over Brexit” and anticipated it would be a “long hard road to full recovery” after making “marketing and brand improvements” across its restaurants.
Morales told The Sunday Times: "After a very successful few years since launch, the past 18 months have been incredibly tough as a result of the challenging economic and political uncertainty."
He added there had been “substantial interest” in buying the company and he hoped to "find a way to continue and move forward”.