Gap considers shutting its store at Portsmouth's Gunwharf Quays
GAP is considering shutting its store in Gunwharf Quays next year.
The US retailer is mulling over plans to close all of its shops in the UK, France, Ireland and Italy in the summer of 2021, the company said in an update.
If it was to shut all of its European stores, Gap would consider moving to a franchise model.
The shop in Gunwharf Quays is among 129 sites the retailer operates in Europe.
It also operates a distribution centre in Rugby, which the company is also considering shutting.
Gap announced that it was launching a ‘strategic review’ of its European business.
Mark Breitbard, head of Gap brand global, said: ‘As we conduct the review, we will look at transferring elements of the business to interested third parties as part of a proposed partnership model expansion.
‘Franchise partnerships are a strong and cost-effective way to amplify the brand.
‘We are committed to sharing more as we thoughtfully work through this process.
‘To the teams that support our European business, I want to thank you for your understanding as we go through this process and express my appreciation on behalf of the entire leadership team.’