B&M Bargains is temporarily closing 49 of its stores - with no plans to reopen until after the coronavirus pandemic.
The discounter, which has 656 stores in the UK, said a number of smaller outlets and ones located in shopping centres will be placed in hibernation for the foreseeable future.
The retailer said 42 of the 49 stores that are due to shut are close to other larger B&M stores.
B&M Bargains, which has been allowed to continue trading under Government guidelines, said it made the decision after reviewing its finances for the past quarter.
The company explained it's reviewed its store structuring "in light of current trading conditions affecting those locations."
Staff at the affected stores have been furloughed under the Coronavirus Job Retention Scheme.
This will see up to 80% of their wages covered by the Government via a three-month grant available to employers.
Coronavirus has claimed 2,392 lives in the UK so far with the nation in lockdown and social distancing measures implemented.
B&M said: "We will review the trading patterns on an on-going basis and intend to re-open those stores as soon as normal shopping patterns resume."
Shoppers who need to visit the retailer for essential products should use the online store locator to find contact information for their nearest shop so they can check if it's still open.
The store closure announcement comes after B&M said it was extending its 10% staff discount to NHS workers during the outbreak.
