STOCKHOLM (Reuters) - H&M , the world's second-biggest fashion retailer, said on Tuesday it would close down its independent brand Cheap Monday by the end of June 2019. "Cheap Monday has a traditional wholesale business model, which is a model that has faced major challenges due to the shift in the industry," H&M said in a statement. "There has been a negative trend in the Cheap Monday's sales and profits for a long time. The H&M group therefore intends to close down? Cheap Monday. H&M said it..