H&M Just Announced They Are Closing 250 Stores

Another retailer has taken a hit due to this awful year…

H&M has just announced their plans for closing 250 stores nationwide.

Beginning 2021, H&M is closing 250 stores due to the coronavirus pandemic, as people increasingly shop online.

H&M has 5,000 stores worldwide, which means this announcement accounts for 5% of its total store count.

“More and more customers started shopping online during the pandemic,” following temporary store closures that, at its peak, totaled about 80% of its store count, H&M said in a statement Thursday.

“Although the challenges are far from over, we believe that the worst is behind us and we are well placed to come out of the crisis stronger,” CEO Helena Helmersson said in the press release.

As of right now, we don’t know which stores are closing but as soon as we know more, we will update you!