Fashion chain Primark is reportedly looking for warehouse space to store £1.5billion worth of surplus stock from overseas.
According to Property Week, the retailer has appointed estate agency Savills to help find 400,000 sq ft of warehouse space.
The chain, which is currently closed in line with Government lockdown rules, has already reportedly rented up to 40 per cent more space during the coronavirus pandemic.
A spokesperson for Primark told Property Week: ”We have made clear our intention to secure additional space to house product we are receiving from our suppliers."
The retailer has suppliers across the world, including in China, India, Pakistan and Turkey, according to its website
"We don’t comment on commercial arrangements," the statement added.
The retailer has donated more than 200,000 products to frontline workers during the coronavirus crisis, including 38,000 t-shirts, socks, underwear, hairclips, pyjamas and joggers.
The news comes as many UK retail chains are struggling as the UK moves into its seventh week of lockdown.
Non-essential businesses including many well-known chains have been forced to close under the government’s new rules.
" Retail has been hit particularly hard,” said Rick Smith, managing director at insolvency and company rescue specialists Forbes Burton.
“Scale is important at a time like this, so those who have too many overheads not being serviced by a constant supply of footfall may find their physical presence in the high street might be too much to ride out."
Mr Smith believes convenience is the key to shops surviving.
He added: “Those canny enough to keep up both a high street and an online presence weighted in favour of convenience will be the ones that manage to weather this particularly unsteady storm."
