A RETAIL giant which plans to shut hundreds of stores has refused to comment on whether or not the future of its Colchester site is under threat.

H&M has announced it will shut roughly 240 of its stores across the globe after suffering a decrease in sales, but it will, however, also open 95 new shops.

Most of the closures will mainly occur in what company bosses have described as “established markets”, while the new sites will pop-up in “growth markets”.

Following the announcement, concern has now turned to Colchester’s H&M with some shoppers questioning if it could be one of the 240 stores set to be axed.

The previous axing of town centre shops such as Debenhams and more recently Marks and Spencer, for example, has not helped ease their anxieties.

When asked by the Gazette about the possibility of the town’s store closing down or remaining open, H&M refrained from going into detail.

A spokeswoman said: “Most of the openings will be in growth markets, while the closures will mainly be in established markets.

“It’s important to note that this is on a global H&M Group level, meaning not all closures will be in the UK and not all of them will be for H&M brand stores.

“We have no further comment to make at this time.”