Gap to shutter 175 stores, shed 250 jobs

SAN FRANCISCO — Gap Inc. plans to close 175 of its namesake stores and 250 jobs at its headquarters as it tries to strengthen the struggling brand.

The company, which owns Gap, Old Navy, and Banana Republic, said Monday it will close about 140 Gap stores in North America by Jan. 31 and the rest later based on location, performance, and others. It did not identify the affected stores.

The Toledo area has just one Gap store, at the Shops at Fallen Timbers in Maumee.