Phase Eight owner TFG reportedly planning up to 400 store closures amid online shift
By
Callum Hoare
Summary
TFG, the owner of fashion chain Phase Eight, is reportedly planning to close up to 400 stores across its portfolio as it cuts costs and adapts to changing shopping habits. This comes after the company had already confirmed plans to shut more than 100 underperforming stores as part of a restructuring plan focused on shifting toward online sales.
Source
bskyPhase Eight owner TFG reportedly planning up to 400 store closures amid online shiftmirror.co.ukKey quotes
· 3 pulledThe owner of fashion chain Phase Eight could close up to 400 stores as it looks to cut costs and adapt to changing shopping habits, according to reports.
TFG, which owns the womenswear retailer, has already confirmed plans to shut more than 100 underperforming stores as part of a major restructuring programme.
South Africa's News24 reports the retail giant could eventually close as many as 400 stores across its wider portfolio as online sales grow.
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