Tashkent, Uzbekistan (UzDaily.com) -- The Swedish chain of clothing stores H&M will close 250 stores around the world due to the pandemic, the BBC writes.

The stores are scheduled to close in 2021. According to the network, despite the fact that sales began to gradually recover after the first wave of the pandemic, they are still 5% lower compared to the same period last year.

In total, H&M has about 5 thousand stores around the world. Of these, 166 are still closed due to the coronavirus. The company said it plans to increase investment in digital technology to sell more online.

“Although the problems remain, we believe that the worst is over. We have every opportunity to get out of the crisis and become stronger,” said H&M CEO Helena Helmersson.