October 01, 2020
Gap Inc. plans to permanently close its long-running store on Walnut Street by the end of November, according to a notice filed with the Pennsylvania Department of Labor & Industry.
The two-story property in Center City, leased by the clothing retailer for more than two decades, will close effective Nov. 30, the Worker Adjustment and Retraining Notification notice said. The closure will impact 32 employees.
A separate WARN notice filed by the company also indicated plans to close the location at Philadelphia International Airport effective Oct. 14, impacting eight employees.
Gap Inc. announced earlier this year that it would close more than 225 Gap and Banana Republic stores worldwide in an effort to reduce its brick-and-mortar footprint. The two brands have had the conglomerate's steepest declines in 2020, while Old Navy and Athleta have both endured the COVID-19 pandemic with more moderate losses.
On Thursday, the company announced plans to increase holiday season hiring, adding part-time workers to pack online orders at its warehouse and add staff to its call centers.
The property at 1510 Walnut Street figures to be a desirable retail location in the future, even as foot traffic has declined under the extraordinary circumstances of 2020.