Peacocks has proposed cutting 147 jobs in three of the distribution centres in the South Wales Valleys. The company hopes the final figure of job losses will be much less.
Peacocks employs 660 people at the sites in Nantgarw, Pentre in the Rhondda and in Merthyr Tydfil.
Recently the Cardiff-based firm was sold out of administration by Edinburgh Woollen Mill (EWM). In February, 6000 jobs were saved but 3100 staff were made redundant.
A spokeswoman said: "Our aim is to have as few redundancies as possible. This is a process we have to go through but we are hoping the final figure will be much less."
The company hopes extra work can be found for staff at the distribution centres within the EWM group or that the staff can be deployed elsewhere.