Dame Sharon White, chairman of the John Lewis Partnership, has said no decisions have yet been made on specific stores but that ‘financial modelling’ is taking place.
Shoppers have since appealed to bosses to keep Sheffield's branch off any potential list of closures. Here are 14 photos that demonstrate the shop’s importance and long history.
1. An imposing building
Cole Brothers department store, in its original spot on the corner of Fargate and Church Street where Pret A Manger is today, looks extremely grand here in July 1905. The streets are decorated for the Royal visit of King Edward VII and Queen Alexandra. Photo: Picture Sheffield
2. Cole's the name
John Cole, one of the store's founders, who lived from 1814 to 1898. Photo: Picture Sheffield
3. A busy scene
People can be seen going about their business at Coles Corner - as the site is still known today - in November 1952. Photo: Picture Sheffield
4. All change
The demolition of the old Cole Brothers store in 1964. Photo: JPIMedia