Nation & World

Victoria's Secret to close 251 stores

Bath and Body Works shops also to close

L Brands will sell its struggling Victoria's Secret brand to the private equity firm Sycamore Partners, the company anno
L Brands will sell its struggling Victoria's Secret brand to the private equity firm Sycamore Partners, the company announced Thursday, Feb. 20, 2020. (Dreamstime photo/TNS)

Victoria’s Secret said it will close 251 stores in North America by the end of this year. That’s roughly 23 percent of its stops.

L Brands said it also will shutter about 50 Bath and Body Works venues.

More store closures could happen in the coming years, Victoria’s Secret interim CEO Stuart Burgdoerfer said on a call with analysts on Thursday.

Burgdoerfer also said that L Brands expects Victoria’s Secret stores will reopen by the end of July.

L Brands had been in talks earlier this year to sell 55 percent of Victoria’s Secret to New York-based private equity company Sycamore Partners. But the deal was called off once the pandemic took hold.

The company faced scandles in the recent years, over allegations of complaints about a former executive, Ed Razek, toward the company’s models, and Jeffrey Epstein, a convicted sex offender who died in prison.

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