On Monday Prime Minister Boris Johnson set out England's roadmap out of lockdown with non-essential stores not opening until April 12 at the earliest.
Frasers, which was formerly called Sports Direct and is controlled by Mike Ashley, said it anticipated making material accounting impairments to freehold properties, other property, plant and equipment, and other assets.
"Given the length of this current lockdown, potential systemic changes to consumer behaviour, and the risk of further restrictions in future, we believe this non-cash impairment could be in excess of 100 million pounds," it said.
While its shops have been closed Frasers has been able to serve customers online.
Shares in Frasers, down 6.5% over the last year, closed Monday at 460 pence, valuing the group at 2.4 billion pounds.
($1 = 0.7107 pounds)
(Reporting by James Davey, Editing by Paul Sandle and Louise Heavens)