The Wokingham branch of Marks & Spencers has been announced as one of six to close.
The clothes retailer revealed the news in a statement released today.
While the Wokingham store is due to shut, there will be a new Clothing, Home and Food stores opening in Bracknell in July.
M&S said that all affected staff will be guaranteed redeployment at a near-by store.
The other stores affected are Monks Cross (Simply Food store), Portsmouth, Slough, Warrington, Wokingham and Worksop (Simply Food store).
If the proposals go ahead, all 380 colleagues in the affected stores would be guaranteed redeployment at a near-by store.
Losing the Peach Street store while the regeneration works are taking place is a blow.
Steve Rowe, Chief Executive of Marks & Spencer, said: “M&S stores will always be an integral part of our customer offer, working seamlessly alongside our website, M&S.com, to deliver great products and service to our customers.
“However, our customers’ shopping habits are changing. Picking up food for now or tonight rather than doing one big shop or browsing and shopping online and collecting in store are great examples of this and we are committed to adapting our business so that we stay in tune with our customers.
“This means there will be more M&S colleagues working in an increased number of convenient locations, serving more customers. It also means that we will open new stores, some will reduce in size, some will move, some will close and others will convert to Food-only.
“Each proposal we make will be very carefully considered with our colleagues and customers firmly front of mind. It is our intention that nobody leaves M&S and we will work as hard as possible to ensure that we can deliver against this promise.”
M&S announced its five-year UK store estate programme in November after a full review of its UK store portfolio.