THE owner of a popular fashion brand has revealed plans to close stores as part of a major restructure.

Phase Eight owner TFG Group said it could close underperforming stores over the next year in an effort to slash costs.

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Phase Eight is a popular womenswear store that was first opened in London in 1979 Credit: Alamy

The plans come amid trouble on the high street, with many retailers struggling to stay afloat Credit: Getty Images – Getty

It said the brand’s performance had been “heavily impacted over several years” by the decline in department stores.

When TFG took over Phase Eight in 2014, its department store sites had accounted for 70% of the brand’s sales.

But the collapse of department store chain Debenhams in 2021 meant many Phase Eight sites were forced to close.

TFG also said trading conditions in London and Australia “have proven to be more challenging than expected”.

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In its full-year results released this week, it revealed plans for extensive cost-cutting efforts, including a restructuring of Phase Eight.

It didn’t provide any details on how many stores could close or which locations would be affected.

Earlier this week, Phase Eight confirmed it was shutting its St Andrews store.

It’s already launched a closing down sale, with dresses and skirts reduced to either £50 or £25.

The chain has previously closed its stores in Dundee and Perth.

Phase Eight was first established in London in 1979 and now has stores internationally.