business news

Gap shutting all Ireland and UK stores to take its business online

Gap shutting all Ireland and UK stores to take its business online
Gap shutting all Ireland and UK stores to take its business online

Gap, the prominent High street retail behemoth, has reportedly announced that it plans to close down all of its stores in Ireland and the UK by end of 2021 to take its business online. The company stated it would be migrating its business to the virtual world in a gradual and phased manner starting August end and continuing through to September end this year.

According to reports, Gap would be providing support as well as transition assistance to its employees following store closures. However, it did not specify the total number of employees that would be affected by its decision.

For the record, the retail firm has been an active High street player since the late 1980s, while being a staple of Ireland since 2006. According to the company’s online store-finder, in total there more than 81 Gap retail stores in the UK as well as Ireland.

The announcement of the store closures comes after a strategic review focused on discovering new, more affordable ways to retain a presence and cater to customers across Europe.

In its official statement, Gap stated that, in Europe and the United Kingdom, the company is going to maintain its presence online. As the e-commerce industry continues to expand, Gap wants to meet its customers where they usually shop. As such, it is reorienting to become a digital-first business and seeking a partner that would help drive its online business.

The official statement further added that the company is thoughtfully progressing through the process of consultation with its European team, and will offer transition assistance and support to its employees as it gradually winds down its physical presence in the countries.

Gap’s departure from high street comes amidst a spate of other store closures this year, which include the likes of  brands like Dorothy Perkins, and Wallis and Burton, a part the now defunct Arcadia retail empire.

Source credit: https://www.independent.co.uk/business/high-street-retail-giant-gap-to-close-all-uk-and-ireland-stores-b1875861.html

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.