While the rumors haven’t been officially confirmed with the company’s corporate office, it appears Santa Barbra will the home to a new H&M clothing store sometime in the near future. Employees at H&M’s Ventura location said the company plans on securing a property within the city, but they couldn’t say exactly where or when that would happen. In other big business news, a manager at the downtown Barnes & Noble said the bookstore would be closing its doors on 12/31 because of a leasing issue. The manager would not elaborate beyond that, and calls to corporate offices were not returned as of press time. The announcement comes a week after Borders said it would be shuttering its State Street store, located just up the street from Barnes & Noble.