Greetings card chain Clintons has told landlords that it urgently needs to shut 66 shops and cut the rent on hundreds more.
The retailer, which has about 2,500 staff, wants the rent for 206 shops to be linked to each store’s performance, the Sunday Times has reported.
As part of a survival plan the firm is reportedly looking at a possible scheme known as a company voluntary arrangement (CVA), an insolvency process that allows companies to continue trading while pushing through closures and rent cuts.
A spokeswoman told the BBC that no decisions had been made yet.
Clintons has a store in Broadmead, Cribbs Causeway and Gallagher Retail Park in Longwell Green.
It marks the second blow to the British High Street just this week.
Earlier this week it was reported that Mothercare had collapsed into administration, with all stores set to close.
An 'everything must go' sale has been launched at both Cribbs Causeway and Eastville's Mothercare stores ahead of its imminent closure.
The Weston-super-Mare branch was closed down in March this year.
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