"The proposals announced today are decisive actions to accelerate our Transformation Plan...and ensure profitable long-term growth," said Sebastian James, managing director at Boots UK.
The announcement came after the footfall into its stores "dramatically reduced" and its revenue-driving beauty and fragrance counters were shut down amid the coronavirus pandemic.
"More than 100 larger stores in city centre, station and airport locations were closed, as were the majority of Boots Opticians practices," said Boots.
"These factors severely impacted comparable retail sales, which decreased 48 percent for Boots UK and 72 percent for Boots Opticians in the third quarter," the firm added.
The chain anticipated that the high street will take "considerable time" to recover under the uncertain economic outlook, although restrictions are beginning to lift.
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