Apparel retailer Gadzooks Inc has revealed in a regulatory filing that it may need to restructure through bankruptcy after five straight months of sagging same-store sales.

The Dallas-based company said in a quarterly filing with the Securities and Exchange Commission that, if sales continued to fall, it might not be able to fund its operations without further infusions of capital.

Without such funding, the company said it might need to sell its assets or file for Chapter 11 bankruptcy protection.

Same-store sales at Gadzooks have fallen by about 30 per cent during each of the past five months, with November sales slipping 28.1 per cent.

Gadzooks operates 406 retail outlets selling women's and young girls' apparel after closing 20 stores so far this year and dropping its men's clothing offering in July.