What: Gap Inc. has announced that it will close all stores in the U.K. and Ireland.

Why it is important: The closures come as Gap Inc. undergoes an operational revamp.

Gap Inc plans to close all Gap and Gap Outlet stores in the U.K. and in Ireland, although it plans to continue online sales. The retailer is looking to revamp their European operations by understanding the geographical needs for each country.

Gap continues to expand its footprint in Europe as it is negotiating with French retailer Hemione People and Brands to take over its stores. And Italian fast-fashion retailer OVS announced that it will sell Gap clothing online and in stores.

All Gap company stores in U.K., Ireland to close