The group behind Cotswold Outdoor and Snow+Rock is planning to close stores, it has been reported.

AS Adventure is drawing up plans for a wave of store closures, Sky News has reported.

“Hundreds” of jobs and a “significant number” of the group’s 120 stores are under threat, a source said.

The source added AS Adventure is close to appointing advisers to oversee the closure programme.

“Given the difficult market environment, the company is looking at a range of cost-cutting initiatives,” they added.

Cotswold Outdoor and the Snow+Rock Group were merged by AS Adventure Group into a new company called Outdoor and Cycle Concepts in 2015.

The move followed AS Adventure’s acquisition of the Snow+Rock Group, which also includes sports specialists Cycle Surgery and Runners Need, from LGV Capital.

AS Adventure has a turnover of £190m and employs 1,200 people in the UK. The company was approached for a comment.