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.
Debate over Exeter and Plymouth elections taking place
Opportunity to discuss whether elections should be postponed
Plan for 35 village homes slammed as “overdevelopment”
Traffic issues also raised
'Red' alert in Cornwall as strong winds become risk to life
Flood risk in parts of Devon too
Grit situation 'risks injuries' in Cranbrook
Many roads not 'adopted' by district council
Residents to quiz council on roundabout upgrades
A revamp of Manadon Roundabout could be on the way
