JOBS in Spain could be at risk after Gap announced it was considering closing stores across Europe.
The American clothing revealed it was proposing changes to its business model outside the United States in a move that could lead to 129 store closures.
Gap, which currently had 75 locations in Spain including concessions in El Corte Ingles, said it wants to focus on its domestic American business.
“Franchisees already operate in 35 countries through 400 stores and we believe there is significant room to expand our franchise footprint,” Katrina O’Connell, Gap’s chief financial officer, said at a virtual investor event.
The news comes just over a month after the brand opened a flagship store in Barcelona’s Gothic Quarters on September 3.
Despite the new store, the retailer has struggled to compete with high street rivals for a number of years and is the latest fashion chain to consider closing stores as shoppers slow down on clothes shopping during the pandemic.
Earlier in the year Gap said that it planned to close more than 225 unprofitable Gap and Banana Republic stores globally.