US retail giant Gap are considering closing all their UK stores next summer along with their European distribution centre in Rugby, which could see thousands out of a job, as sales have plummeted.
In the three months to May, Gap reported a £740m loss due to the virus and they are now considering moving into a franchise model.
“As we conduct the review, we will look at transferring elements of the business to interested third parties as part of a proposed partnership model expansion,” said Mark Breitbard, head of Gap brand global.
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