Gap

Type
Closure
Country
World
Region
Location of affected unit(s)
Ireland, United Kindgom
Sector
Wholesale / Retail
47 - Retail trade
47.7 - Retail sale of other goods, except motor vehicles and motorcycles
47.71 - Retail sale of clothing
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
30 June 2021
Employment effect (start)
31 August 2021
Foreseen end date
30 September 2021

Description

The American clothing chain Gap announced that it will cut over 1,000 jobs in the UK and Ireland. The restructuring programme is part of a strategic review announced by the company in October 2020, and it is related to the COVID-19 pandemic.

Under the restructuring programme, the chain is to close all 81 shops in the UK and Ireland between late August and the end of September 2021. Gap reveals that it will continue to operate is online business in the countries.

Additionally, the company is to sell its stores in Italy and France which are expected to be run by franchise operators. Founded in 1969, Gap is an American worldwide clothing and accessories retailer.

Sources

Citation

Eurofound (2021), Gap, Closure in World, factsheet number 105010, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105010.