SAN FRANCISCO, CA — A major fast-fashion retailer is closing up shop in San Francisco’s largest mall, according to a report by the San Francisco Chronicle.
H&M is the latest business to leave the San Francisco Centre, which, according to the report, is nearly empty following a foreclosure auction last month.
The popular brand told the San Francisco Chronicle that they were told to vacate the property and would be doing so in January. This comes as new owners are attempting to slash costs, according to the report.
Brokerage firm CBRE has been chosen to market the property, although it’s unclear whether plans will see the San Francisco Centre stay as a mall or transform into another type of business.
A new H&M location opened up at the Stonestown Galleria in San Francisco ahead of Thanksgiving weekend. The H&M Stonestown Galleria location will be the only one in San Francisco after the one at the centre closes.
The company still has multiple locations in the Bay Area, including in San Jose and Emeryville.
Read more from the San Francisco Chronicle.