H&M Set To Close 250 Stores

Another clothing store chain is shutting down hundreds of stores as the pandemic wreaks havoc on the retail world.

H&M announced Thursday that it would close down 250 stores, citing the pandemic and the rise of online shopping.  That accounts for about 5 percent of the Swedish-based company’s 5,000 worldwide locations.

More than 40 retail chains have filed for bankruptcy since the pandemic began, including J. Crew, Pier 1, Lord & Taylor, and J.C. Penney.