Moss Bros has hired KPMG to prepare itself for a company voluntary arrangement (CVA), allowing it to close some of its 125 shops and reduce rent on those remaining.
The suit maker has been hit from Covid-19, due to restrictions on big events such as Royal Ascot and large weddings, which of course, drove in most of its sales.
1,000 jobs may be at risk.
The chain and KPMG both decline comment.