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Gap to close 175 stores, lay off 250 employees
Gap Inc. is planning to close 175 of its Gap stores and streamline its workforce by as many as 250 positions as the struggling retailer moves to re-ignite productivity and growth at its namesake brand.
The company says the series of strategic actions are part of a comprehensive effort to deliver more consistent and compelling product collections and engage customers across all channels.
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Leadership liquidation continues at Lumber Liquidators
Lumber Liquidators former chief merchandising officer William Schlegel is the latest casualty of an ongoing management overhaul by company founder and Chairman Tom Sullivan that also claimed the jobs of the CEO and CFO.
Sullivan continues to clean house at the company he founded 20 years ago after a damning report by 60 Minutes raised concerns about the company’s product sourcing practices and allegations of circumventing federal laws.

