Dobbies Garden Centres is planning a financial overhaul of the business which could lead to rent cuts and shop closures.
The garden centre and housewares retailer, which is owned by investment firm Area Management, is reportedly working with advisors at FTI Consulting on the plan, according to Sky News.
It is unknown how many of the chains’ 77 stores are set to close or how many of its 3,700 members of staff will be affected.
An insolvency process at the chain is likely if the proposals are not approved by creditors.
The move comes after Dobbies widened losses to £130m in its latest annual results, making it a drop from its £21.3m loss the year before.
The preparation of a restructuring plan comes 18 months after Ares took control of the business from Midlothian Capital Partners.
