H&M to shut down its Cheap Monday brand

H&M, the world's second-biggest fashion retailer, said on Tuesday it would close down its struggling independent brand Cheap Monday. H&M in 2008 bought Fabric Scandinavien, the owner of the Cheap Monday brand, whose trademark product is low-priced skinny jeans, and the store chains Weekday and Monki. Cheap Monday products are sold mainly through around 3,000...