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Gloucestershire Business News

H&M to close 240 stores

Fashion giant H&M is set to close 240 stores worldwide, following a slowdown in sales.

It's not thought the closures will be in Gloucester or Cheltenham. It's not yet even clear whether any will be in the UK - the retailer has said only that closures will mainly be in 'established markets', as reported by Retail Gazette.

On the flipside, H&M plans to open 95 new stores in 'growth markets' around the world.

185 stores are currently closed in Russia, following the country's invasion of Ukraine.

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