https://www.usatoday.com/story/money/2020/05/20/victoria-secret-store-closings-2020-bath-body-works-coronavirus/5231836002/
Excerpts:
Victoria's Secret to Close About 250 Stores in the U.S. and Canada
Victoria's Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday.
Victoria's Secret has 1,091 stores in the U.S. and Canada with 909 U.S. Victoria's Secret and 144 Pink Stores. The company says it will close 235 U.S. Victoria's Secret stores and 3 Pink stores. It also plans to close 13 of its 38 stores in Canada.
In February, L. Brands announced a deal to sell 55% of Victoria's Secret to Sycamore Partners, a New York private equity firm. After the pandemic struck, Sycamore wento to court to back out of the deal and in early May, both parties called it off.
L. Brands said in a news release Wednesday that it "remains committed to establishing Bath & Body Works as a pure-play company and is taking the necessary steps to prepare the Victoria's Secret Lingerie, Victoria's Secret Beauty and PINK businesses to operate as a separate, standalone company."
The company said it is working to reopen stores that have been closed because of the coronavirus.