The US team announced in a press release that the ready-to-wear brand cape will close its stores in the United Kingdom and Ireland by the end of September.
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“We today informed our team of our plan to close all break and break stores in the UK and Ireland on a phased basis between August and September 2021,” the group announced in a post on its website. Employees affected by this decision.
Cape has 81 stores in the UK and Ireland. Nineteen stores will be “closed by the end of July due to the expiration of leases, and we propose to close the remaining stores between the end of August and September,” an AFP spokesman said.
The closures are linked to “the dynamics of these markets” and the group pledged to provide support and change assistance (to colleagues) to “victims”.
However, the brand says it wants to “maintain its presence” in the United Kingdom, which has been in operation since 1987, and Ireland in 2006. Thus it is the UK that “maintains its online functionality”. And in Europe.
The announcement follows a “strategic review” of the CAPE’s operations in Europe, following which the panel “made an in-depth assessment of France, Italy and the Republic of Ireland and its potential allies for (its) intermittent operations in the United Kingdom.”
Cape announced last October that it was considering closing its stores in France, the United Kingdom, Ireland and Italy by June 2021.
In France, on June 25, the competition commission awarded its contract to acquire the brand’s 21 French stores by FIB funding.
In Italy, Cape says it is in talks with an “unidentified partner” to buy its stores.