About half of the former John Player factory in Radford, built in 1895, has now been torn down in a series of controlled demolitions.
The decision on whether to erase it completely will be made by its owners and insurers.
Senior firefighters have said the blaze at the Victorian landmark, which was being converted into student accommodation, was the most complex they had ever dealt with.
So how much damage has the fire done to the city's architectural landscape?
Maria Erskine, curator of community history for Nottingham City Museums and Galleries describes the site as "significant" in terms of the social and economic history of the city.
She says the factory was envisaged in the 1880s and was the only remaining one commissioned by John Player himself.
"Radford was an undeveloped area before these factories were built, so it really showed the growth," Ms Erskine said.
"It was built just after Radford Boulevard was laid down and it was the building up of Radford, so that's why it was so significant."
Players built three factories in the area, though they originally only needed one.
It was used by the lace-making industry before cigarette production began there in 1903.
Players' Victorian factories featured high ceilings and large windows.
Many of the company's original buildings were demolished when the larger Horizon factory was built to meet the firm's production needs in Lenton in the 1970s.
"Players relocated because they couldn't build anymore in Radford as there was so much housing and that's why there's been a slow erosion of these buildings.
"The firm's advertising later took off through slogans such as "Player's Please", which was registered in 1924.
Player's sponsorship of major sporting events such as motor racing, tennis and rugby in the last half of the 20th Century also helped it become a household name.
The Lotus Formula One team was sponsored by John Player from the late 1960s until the 1980s.
In 2009, the city council and the University of Nottingham began an online archive of more than 20,000 objects from the firm's history.
The items include adverts, packaging and enamel signs from the 1890s to the 1980s.

The election was called after mayor Lutfur Rahman was convicted of electoral fraud and removed from office in April.
He has been banned from standing again.
The Met Police said it was investigating 16 allegations of electoral malpractice in relation to this election, including harvesting votes and the improper distribution of election literature.
The full list of Tower Hamlets mayoral candidates is:

Tiffany Li, 31, posted $4m in cash and pledged $61m in property, raised from a group of friends, family and business associates, the Associated Press said.
The bail had been set at $35m, but California courts require double the amount if property is used.
Her lawyer said she was "well-liked in the community", the LA Times reported.
"I was surprised at the number of people that came forward," Geoff Carr said, "I think people believe she is not guilty," he told the newspaper.
Ms Li has pleaded not guilty to charges that she conspired with her boyfriend, Kaveh Bayat, and another man, Olivier Adella, to kill Keith Green, 27, and dispose of his body last year.
Prosecutors say she feared losing custody of her young children to Mr Green.
San Mateo County District Attorney Steve Wagstaffe told the LA Times the bail sum - described as "mind boggling" in one news report - would be the highest ever posted in the wealthy county's history.
He said he believed her to be a flight risk, but that lawyers on both sides had agreed that if the expected release went ahead she would have to wear an electronic monitoring bracelet, be under house arrest and surrender her passport as well as her children's.
Mr Carr said he expected Ms Li, a Chinese-born property manager and former stockbroker, to be released on Thursday, the Associated Press reported.
A family friend of Mr Green, Angela Dunn, said news of the bail was "very disappointing", ABC7 reported.
Mr Green and Ms Li had met on 28 April at a pancake restaurant near her home in Hillsborough, an area south of San Francisco, considered one of the wealthiest communities in the US.
But he never returned home. His body was found nearly two weeks later, some 80 miles (128km) north. He had been shot dead.
A week after that, Ms Li, Mr Adella and Mr Bayat were arrested on suspicion of murder.
A 19th Century factory, once a grand beacon of Nottingham's industry, has been largely reduced to ashes and rubble after a fire consumed it for more than a week.
[NEXT_CONCEPT]
Voters in Tower Hamlets are going to the polls to vote for a new mayor.
[NEXT_CONCEPT]
A California woman suspected of murdering the father of her two children is hoping to be released from prison after raising $65m (Â£52m) bail.