Headlines

H&M Closing Cheap Monday Line

Store, online business to shutter by end of the year

Published

6 years ago

November 27, 2018

kmpeyton

Stockholm-based H&M will shutter its struggling Cheap Monday brand by the end of the June 2019, and will close its London store and its online business by the end of the year. According to the company, the brand has failed to meet sales expectations for some time.

The cuts will affect the brand’s 80 workers, primarily based in Sweden, but those employees will be offered external career support and guidance, as well as the opportunity to work in other positions at H&M.

H&M says the label’s wholesale business is “ill-adapted” to shifts in the industry, reports Women’s Wear Daily. The fast-fashion retailer’s other brands, Cos, Monki and & Other Stories are still profitable, so it will keep investing in those businesses, it says.

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