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.
Exeter's new waste recycling plant to cost £13 million
New building will be cheaper than modernising existing plant
20 homes for Torridge village proposed
40% will be affordable
Pavement licence fees could rise in East Devon
A new policy has been adopted
Police appeal after phone theft scam
The money was never exchanged
Concerns for missing Devon man
Steven McCormick was last seen earlier this week
Exeter city centre toilets could become falafel outlet
They were closed in 2019
