Monki, a fashionable chain owned by H&M, is set to close two of its stores in just a matter of days, marking the beginning of its disappearance from the high street. The brand currently has seven UK stores, including locations on London's Carnaby Street and in Glasgow, Scotland. H&M representatives have disclosed to The Sun that the Newcastle upon Tyne branch in Eldon Square shopping centre will permanently shut its doors on January 2, followed by the Manchester branch in the Arndale centre on January 17.
The fate of the remaining five Monki sites hangs in the balance, with possibilities of either permanent closure or transformation into something new. In a recent announcement, H&M, the parent company of the fashion brand, revealed plans to either close Monki stores or merge them with fellow fashion brand Weekday. Weekday is another one of H&M's brands, targeting a younger demographic.
READ MORE: 'No deterrent to shoplifting' as plagued 5-star Coventry Greggs to shut The Swedish retail giant expressed its intention to amalgamate the two brands to create an "ultimate youth destination for style and creative expression". The statement from H&M read: "A limited number of Monki stores are intended to be transformed into multi-brand Weekday destinations, while the others are intended to be closed. The newly formed Weekday multi-brand destination will cater to customers' high aesthetic standards while embracing their multitude of unique expressions.
" Monki presently operates seven .
