A POPULAR wine company has announced plans to revamp its business by closing some of its 200 stores.

Majestic Wine, which has stores in Colchester, Braintree and Southend, said it would be concentrating on its online Naked Wines division.

The change will also see the company being renamed Naked Wines.

More details of the store closures - and any job losses - will be given in the summer.

Naked Wines was bought by Majestic in 2015 for £70m.

In its statement, Majestic said almost 45 per cent of business came from online with a further 20 per cent from international sales.

Job losses will be minimised by transferring staff to the Naked brand.

The company added it was on target to hit sales of £500m this year, and profits were also on track.