Optical Express is set to shut around 40 stores across the UK after filing an intention to appoint an administrator - believed to be PKF - to one of its subsidiary companies.

The optician group, which has 170 shops in its portfolio, said it was 'consolidating' its stores to 'focus resources on its flagship locations and online business'. All its eye surgery clinics will remain open.

Optical Express group chairman and chief executive, David Moulsdale, said: 'Most of the locations closing are in tertiary high street locations that have been significantly impacted by markedly reduced trade due to both competition from shopping centres and reduced consumer spending due to the challenging economic climate.

'We are now in a position of strength to go forward and grow our business in these tough economic times.'

The company said employees of the stores earmarked for closure will be redeployed at other locations within the group.