L Brands set to sell brand to private equity

L Brands set to sell brand to private equity

[ad_1]

rssfeeds.usatoday.com

Victoria’s Secret could soon become a private company.

L Brands, the struggling retailer’s parent company, is expected to sell the lingerie brand to a private-equity company as early as Thursday, The Wall Street Journal reported late Wednesday. The paper, citing anonymous sources, said the deal valued Victoria’s Secret at $1.1 billion.

The Journal reported that Sycamore Partners – a New York-based investment company which has taken other retailers private including Staples – is expected to buy 55% of Victoria’s Secret.

According to the report, L Brands could keep a 45% in the private company, which would include Victoria’s Secret’s Pink chain.

Pier 1 store closings:These locations are slated to shutter. Is yours on the list?

Macy’s store closings map:Macy’s is closing 125 stores with the first locations closing soon: Is your location on the map?

In February 2019, L Brands announced 53 Victoria’s Secret stores would close at a time it was growing its Bath & Body Works chain.

This story will be updated.

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko



[ad_2]

Source link

Published
Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

Your email address will not be published. Required fields are marked *