Thresher Group has calmed reports that it is to double the number of stores it is selling off as set out in the company's business plan earlier this year.

The group said today (9 June) that, despite recent speculation, the number of stores set to go has not changed from the amount announced in the original March business review.

Following the appointment of CEO Yvonne Rankin in September last year, the company announced a four-year investment programme which will involve the disposal of "under-performing" stores and the opening of new stores in a bid to "reshape" its 1,620 store portfolio to around 1,500.

Upon announcing the strategy Rankin said: "We will be investing in our brands for the long-term, and improving our ranging, pricing and promotions - that's good news for existing and new customers, as well as our highly valued employee base."