Clothing giant New Look could close around 60 stores across Britain in a bid to save money on rent.
The fashion retailer is reportedly drawing up plans to close around 10% of its stores up and down the country.
According to The Mirror, it comes after reports that credit insurance had been withdrawn to many of New Look's suppliers.
This would force the South African-owned company to pay for products up-front.
New Look is now said to be looking at a Company Voluntary Arrangement (CVA) to restructure debts with credits.
Closing dozens of stores would help New Look make a significant reduction in its rent costs and a decision is expected in the coming weeks.
It is the latest in a number of high-profile high street names to face financial struggles.
Toys R Us was saved from collapse in a last-ditch deal before Christmas.
The troubled toy chain plans to axe at least 26 of its 105 stores early this year, with up to 800 job losses.
Where are New Look stores in west London?
Greenford Retail Park
Ealing Broadway Centre
Harrow, Station Road
Hounslow, The Treaty Centre
Westfield White City
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