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It was revealed last week that fashion chain New Look is considering closing 60 of its stores.
The high street clothes retailer has stores in many towns in the region including Ipswich, Bury St Edmunds, Sudbury, Beccles, Thetford, Lowestoft, Colchester and Clacton.
In Norfolk, New Look has a presence in Norwich, Kings Lynn and Great Yarmouth.
Sky News has learnt that the South African-owned chain is drawing up proposals for a Company Voluntary Arrangement (CVA), a process often used by struggling retailers to restructure financial obligations to creditors.
The EADT has contacted New Look but as yet the company has declined to comment.
The news is another sign of the tough retail environment facing the high street.
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