Majestic Wine is to embark on a store closure plan as part of a wider transformation.
The specialist wine retailer did not specify the number of outlets it will close but chief Rowan Gormley said he has "no choice", adding that he will aim to "minimise job losses".
Majestic trades from around 200 stores in the UK.
As part of the restructuring, Majestic will also rebrand as Naked Wines following its takeover of the group in 2015 and invest a further £6 million a year in the business.
This is expected to be funded by migrating customers and stores to the Naked brand, asset sales and high street closures.
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However, the company warned that it will take a largely non-cash restructuring charge of up to £10 million this year, with further pain in 2020.
Majestic has also put the 2019 dividend under review.
Shares were down over seven per cent in morning trade at 251p.
Fever-Tree is set to post an increase in annual profits next week after the mixer maker benefited from last summer's heatwave and bumper Christmas trading.
City analysts forecast the company will report a 32 per cent increase in earnings to £77.5 million for 2018, ahead of expectations.
Sales are also set to jump 39% to £236m following what Fever Tree has previously described as an "outstanding" summer and strong Christmas.
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In the UK, its fastest growing market, sales were up 52% last year and the US saw 21% growth.
Inmarsat has agreed to be taken over by a consortium of private equity firms including Apax and Warburg Pincus in a £2.6 billion deal.
Under terms announced on Monday, the satellite communications group will be sold for cash at 7.21 US dollars (546p) a share.
As well as UK group Apax and US-based Warburg Pincus, the consortium also includes the Canada Pension Plan Investment Board, and the Ontario Teachers' Pension Plan Board.
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