A MAJOR retailer in Cardigan is set to close down this week as part of a nationwide package of store closures.

The Arcadia Group, which owns women’s fashion retailer Dorothy Perkins, is considering closing up to 67 stores nationwide according to a leaked report seen by the Financial Times.

A sign in the window of the Cardigan store, on Pendre opposite the Guildhall, says it will shut on Saturday, May 25.

This year the group has attempted to renegotiate rents at its 570 UK stores as part of efforts to turn the business around. The earmarked stores reportedly have an annual rent total of £11 million.

The Arcadia Group, which also owns Topshop and Topman, Miss Selfridge, Burton, Evans and Wallis, has been contacted for comment.

However, a statement released by the group earlier this year said it was "exploring several options" in order to restructure the business.

“Within an exceptionally challenging retail market and given the continued pressures that are specific to the UK high street we are exploring several options to enable the business to operate in a more efficient manner,” said a spokesperson.

“None of the options being explored involve a significant number of redundancies or store closures.

“The business continues to operate as usual including all payments being made to suppliers as normal.”