H&M is set to close its Cheap Monday brand as the business plans to focus more on its core business.
The closure will affect around 80 workers and will see the closure of the store in London, as well as operations in Tranas and Stockholm in Sweden.
The closure is set to be complete by June 2019 although trading online and at the store in London will close by December 31st 2018.
Anna Attemark, head of new business at the H&M group, said: “We need to constantly develop our business and what we choose to invest in. We see very good opportunities and great potential for all of the other brands within new business, which all are developing positively both digitally as well as through physical stores.”
