The company has already closed its doors and laid off all 15 staff, with a petition for administration having been filed earlier this week.
Popular with a wide variety of entertainment stores, Just was founded by former Planet Distribution owner Yash Chadha and had traded for seven years.
The company achieved annual sales of 10 million at its height, boasting preferred status deals with the likes of Capcom, Konami, MadCatz, Venom and DP3.
Chadha himself confirmed to MCV the move into administration, but said that "on-going legal issues" meant he could not comment further. The company is expected to be formally placed into administration within the next 10 days, with all outstanding financial matters being handled by the duly appointed third party.