India, June 7 -- The owner of the chain in the UK could close up to 400 stores due to the reason of cutting costs and adapting to changes in shopping habits. TFG owns the women's wear retailer and has already confirmed the plan to shut more than 100 underperforming stores due to a major restructuring programme.

However, it could close around 400 stores across its portfolio as online shopping continues to grow and physical stores come under increasing pressure for sales. This decision comes as Phase Eight faces its challenge on the high street in the UK.

Phase Eight Store Closure: Why are Stores Closing

TFG said that the performance of the brand had been heavily impacted over several years due to the decline of department stores. When T...