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H&M puts down the chain Cheap Monday
Cheap Monday+ FÖLJH&M put down the chain Cheap MondayMIN ECONOMY

Brand Cheap Monday are settled.

It announces the H&M in a press release.

– We need to constantly develop our activities and what we choose to bet on, " says Anna Attemark, responsible for New Business within the H&M group, in a press release.

H&M group announced on Tuesday that the operations of Cheap Monday scrapped.

clothing chain writes in a press release that the company instead should focus on the core business.

”Cheap Mondays business model is based on the traditional wholesaling that have had major challenges due to the shift in the industry. Cheap Monday has for a longer time, had a negative sales and profitability trend”, they write in the pressutskicket.

Approximately 80 employees in Tranås and Stockholm will be affected by the decision to close. They are offered outplacement support and the opportunity to seek work within the H&M group.

the Dismantling starts immediately and will end on 30 June 2019. At the end of the year will the online store and the physical store in London to be shut down.

– We need to constantly develop our activities and what we choose to bet on. We see very good opportunities and great potential for our other brands within the New Business that all the progress both digitally and through their own stores, " says Anna Attemark, responsible for New Business within the H&M group, in the press release.

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