According to a report by Sky News, Next is set to sell its headquarters in Leicester, as well as three warehouses.
The move follows the closure of the retailer’s online, warehousing and distribution operations in response to staff concerns surrounding coronavirus.
It has been reported that property agent Savills has been appointed to secure a buyer for the Leicester HQ, while Acre will dispose of the warehouses.
The sale and leasebacks of the properties could create tens of millions of pounds in an uncertain time, strengthening Next’s balance sheet.
Following a stress test presenting the likely cash and profit impact for different levels of sales decline as a result of the COVID-19 outbreak, Next highlighted potential sales losses of up to £1bn.