Gap Inc. plans to close one of its largest New York stores in January.
The San Francisco-based clothing retailer (NYSE: GPS) — which also owns Old Navy and Banana Republic — will shut down the three-story store at 680 5th Avenue on Jan. 20, according to Bloomberg.
The 5th Avenue store is within close proximity to Trump Tower and Rockefeller Center, where exorbitant rents are said to be hurting businesses.
The news comes about eight months after Gap CEO Art Peck confirmed plans to scale back…
