Gap has been conducting business in the UK and Ireland since 1987 and 2006 respectively
Gap revealed on Wednesday its intention to shut all 81 of its stores in the UK and Ireland.
The move, which will see the company become online-only in the UK and Ireland, has put 1,000 jobs in doubt.
The American fashion brand confirmed it will gradually close the stores between the end of August and the end of September.
A spokesperson for the company said: “The ecommerce business continues to grow and we want to meet our customers where they are shopping. We’re becoming a digital-first business and we’re looking for a partner to help to drive our online business.”
Gap has been conducting business in the UK and Ireland since 1987 and 2006 respectively.
The clothing giant undertook a review of the company as it considered selling its shops across Europe. It will now look at doing the same across Europe.
While Gap is analysing its current mode of operating, it reaffirmed its desire to continue operating in the UK, Ireland and across Europe.
“We believe in Gap’s global brand power. We are executing against Gap’s power plan and partnering to amplify our global reach,” the company said in a statement.
“We are not exiting the UK market. We will continue to run and operate our Gap e-commerce business in the United Kingdom and Republic of Ireland.”
The Gap share price closed up 3.8% last night at $33.81 in New York.