TFG, the owner of the fashion chain Phase Eight, is contemplating the closure of up to 400 stores as part of a significant cost-cutting initiative aimed at adapting to evolving shopping habits. The company has already confirmed that it will shut down over 100 underperforming stores due to the ongoing shift towards online shopping, which has put pressure on physical retail locations. Phase Eight has been particularly affected by the decline of department stores, with around 70% of its sales previously coming from these venues. The collapse of Debenhams in 2021 severely impacted this sales model, leading to numerous store closures. Furthermore, TFG has indicated that trading conditions in key markets such as London and Australia have been more challenging than anticipated. The retailer is also experiencing a substantial increase in online sales, which have risen by over 30% in the past year. While TFG has not yet confirmed specific additional closures in the UK, it is actively reviewing its store locations as part of its restructuring efforts.