A FASHION chain is conducting a review of its stores in the wake of cuts to save £50 million by 2022.

Superdry is set to slash 200 jobs, mainly at its HQ in Cheltenham, Gloucestershire where it has around 1000 staff, as part of short-term efforts to save £20 million, as part of a plan over the next three years to save £50 million.

The clothing retailer has seen a decline in trade and a massive drop in its share price over the past year, issuing two profits warnings.

Its shares have collapsed from 1715p this time last year to 550p as if Tuesday..

A spokesman said on Tuesday: “We have started a process of consultation with colleagues about how it will affect our central head office functions.”

The spokesman also told the Echo a review is underway to determine the viability and performance of its stores across the country.

The clothing chain has four stores in Essex, including in the Eastgate Shopping Centre, Basildon, Lakeside Shopping Centre in Thurrock, High Chelmer Shopping Centre in Chelmsford and in Culver Square, Colchester.

The review is still in process. Superdry has stated it does not know when the review will complete or if any of the stores in Essex will be affected by the company's money saving plans.