British kitchen retailer Magnet has warned that more store closures are inevitable as the company continues a major restructuring of its UK business.

The retailer has already closed 15 showrooms this year, while the future of a further 39 locations remains uncertain as Magnet negotiates with landlords. The company currently employs around 1,500 people across the UK.

Magnet was transferred to new private-equity owners earlier this year after its former Swedish parent, Nobia, handed over the business for free. The retailer is now attempting to reduce its operating costs and move towards smaller, more efficient showroom formats.

Chief executive Sophie Rose has pointed to the high costs associated with large-format stores and wider economic uncertainty as major challenges facing the company.

Despite the closures, Magnet says it is aiming to return to profitability next year. Around 30% of affected staff have reportedly been redeployed, while some workers have been offered opportunities with other businesses.

The restructuring highlights the continuing pressure on Britain's physical retail sector, where companies are increasingly reassessing expensive store networks.

For Magnet, the coming months could determine how much of its traditional high-street presence survives.