A two-storey building in St Albans could be demolished and replaced by a three-storey residential structure.
The Cotswold store - set within 91-93 Victoria Street - is currently closed for relocation.
Another Cotswold shop looks set to open in the city's Maltings Shopping Centre, with signs already in place.
Cotswold Outdoor has been approached for comment.
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Conditional permission has been granted for 14 self-contained flats created at 91-93 Victoria Street, along with access and landscaping.
However, planning permission is pending for alterations made to these plans.
A commercial unit and bike store would be included on the site, on the ground floor of the development.
3D artist's impressions have been created, showing gardens and a more modern structure.
Residents have until Saturday (March 4) to comment on the alterations, which are available here.
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A planning statement produced by Hybrid Planning and Development, for TA Victoria Street Ltd, reads: "When considered against current national and local planning policy, the proposed development continues to be acceptable having regard to the use, design, scale, highways impact and amenity.
"The proposal would represent a high standard of design that would enhance the character and appearance of the site and the Conservation Area in accordance with Policies 69, 70 and 85 of the Local Plan."
On the planned commercial space included in the plans, the statement continues: "The commercial element will operate under Class E and would form the whole length of the Victoria Street Frontage and part of the Upper Latimore Road Frontage, as approved as part of the original application.
"The amendments would ensure that the proposed development would deliver a sustainable and attractive modern commercial unit for future business needs in a town centre location, in line with the original planning application.
"The proposed retail floorspace would still result in an overall loss, when compared to the existing position, however as set out within the original planning permission, the replacement unit would be comparatively more attractive with a more efficient layout than the existing units."
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