Laura Ashley is to close 40 of its UK stores, amounting to around 200,000 sq ft in retail space.
The move comes as the retailer reassesses its stores format and focuses on expanding in China.
It also follows the succession of Andrew Khoo as chairman last week, taking over from his father Khoo Kay Peng.
The Laura Ashley portfolio covers 152 stores across some 750,000 sq ft of space, according to Radius Data Exchange.
So far in 2018, retailers have announced plans to close 18.4m sq ft in commercial space, including the latest Laura Ashley stores. The bulk of this space has already been released back to the market, with the majority of the rest expected to become vacant by early 2019.
James Child, retail analyst at EG, said: “The fashion sector will come under increasing pressure in 2019 – a slowdown in consumer spend will likely see many of the mid-market offers squeezed, with value and high-end propositions remaining salient.
“Next, New Look and Topshop have already been slowly reducing the size of their physical store presence, as experience and destination retail competes with online accessibility.
“Same- and next-day delivery expectations will continue to add additional strain to profit margins, as will customer returns and the logistical pressures of Brexit. Movement of goods will also add a new level of uncertainty to an already strained market.”
Meanwhile, menswear chain Blue Inc has collapsed amid financial difficulties.
The company has fallen into administration after failing to find a buyer for the retailer.
According to reports, there are at least two parties who are interested in buying some of the chain’s stores and one potential buyer who could acquire its brand.
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