June 14, 2018 / 6:38 AM / a month ago

UK's N Brown may close 20 stores on receding footfalls

(Reuters) - British clothing retailer N Brown Group Plc (BWNG.L) said on Thursday it was looking to close about 20 stores as visitor numbers have dwindled.

“Given continued very disappointing footfall, and despite significant cost efficiencies being achieved, we are today entering into a consultation with store colleagues to consider closing our 20 stores ahead of lease expiry,” N Brown said.

The company, whose brands target women aged 30 and above and those of a larger frame, said it expects to take exceptional costs of 18 million pounds ($24 million) to 22 million pounds if it decided to close all 20 stores.

The company, however, stuck to its full-year expectations.

Reporting by Arathy S Nair in Bengaluru; Editing by Sunil Nair

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