Gap Will Close 230 Stores

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

2017 and 2018 were very difficult years for many of America's most iconic store chains. The low sales and poor performance of their establishments caused many companies to lay off hundreds of employees and close many of their locations. Unfortunately this year is not looking very good either, for many other companies that are struggling to stay afloat in the midst of all the changes that are emerging in the market. Now, one of those that had been the fall of favorite stores of the majority of the North Americans is seen in the necessity to close more than two hundred stores.

We are referring to Gap, whose company has been experiencing losses in recent years and with no hope of recovery. Therefore, they have decided to close some 230 of their stores around the United States, which will result in losses of up to one year in a press release.

Among these changes is also to remove Old Navy from the company's list of stores, which in addition to Gap includes Banana Republic, Intermix and Hill City. From now on Old Navy will continue not only as a store but also as a company. In fact, Old Navy is one of the few stores that has been experiencing gains in recent months, compared to other chains that are still in trouble.