The company says it's hoping to keep job losses to a minimum.
Stiff competition from supermarkets is one of the factors to have hit its trading.
The Devon stores are in Exeter, Totnes, Barnstaple and Tiverton.
The full proposals will be released in June.
Crackdown on anti-social behaviour in Plymouth
PSPOs proposed for six city centre car parks
£1.6 million for more energy efficiency Devon home upgrades
41 properties improved over last year
SWW to build huge new Churston solar farm
Council could opt out of building and lease the land instead
MP highlights Devon's dentistry 'crisis'
'People are in pain but are unable to access treatment'
Work on ‘once-in-a-generation’ Newton Abbot project back on track
'Newton Abbot is a fantastic place'
Complaints made after animal activity licence backlog
It's taking North Devon Council up to 6 months
