John Lewis has posted losses of more than £500m and warned that worse is to come, but has postponed an expected announcement on store closures until the end of the month.
In what it described as "one of the most challenging in the Partnership's history", preliminary results for the group for the year ending January 30 show a loss before tax of £517m.
The group, which also owns upmarket grocery chain Waitrose, said it does not expect all its John Lewis shops to reopen at the end of lockdown.
It did not say how many of its 42 John Lewis shops are under threat, but confirmed it was in talks with landlords and will make a final decision at the end of March.
Recent reports suggested another eight stores were earmarked to close, on top of eight announced in July.
The group also scrapped its staff bonus for the first time since 1953, as previously reported, after the coronavirus crisis sent it plunging to the hefty loss for the year to January 30 against profits of £146 million the previous year.
Chairman Sharon White said: "There is no getting away from the fact that some areas can no longer profitably sustain a John Lewis store.
"Regrettably, we do not expect to reopen all our John Lewis shops at the end of lockdown, which will also have implications for our supply chain.
"We are currently in discussions with landlords and final decisions are expected by the end of March."
She added: "We will do everything we can to lessen the impact and will continue to provide community funds to support local areas."
John Lewis has Scottish branches in Glasgow, Edinburgh and Aberdeen which are temporarily closed due to coronavirus restrictions.
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