The American clothing brand GAP, which owns brands such as
Gap, Banana Republic, Old Navy, Athleta Inc, announced that it has decided to close its stores in Europe. GAP officials stated that such a decision has not been made for Turkey
The company announced that it is preparing to close its 120 stores in Europe for the closure decision that will be effective after July 2021.
Officials, who had great difficulties due to the coronavirus and tried to revive the brand, closed more than 200 stores in Europe and reported that they were considering saving more than $ 80 million annually.
It was announced that the famous clothing store, whose sales fell considerably due to the restrictions brought by the coronavirus epidemic, made a loss of 62 million dollars in the second quarter of this year. According to the statement, it was shared that GAP did not close stores in Turkey during the epidemic, and that transactions such as store closure and dismissal will not be carried out in the upcoming periods.