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Victoria’s Secret closes a quarter of its stores

Victoria’s Secret closes a quarter of its stores

Victoria’s Secret executives have declared the closure of a quarter of its stores in the United States and Canada, a decision that is only a week away from that which saw the half-million-dollar plan to become a private company canceled after the annulment of the agreement previously taken with the private equity firm Sycamore Partners, which was canceled in early May.

L Brands, the company that owns the American brand, said that this decision, which sees the closure of 250 stores, representing the 23% of the total stores, is only the beginning and that other closings could take place in the upcoming years.

The brand’s CFO, Stuart Burgdoerfer, also said that the remaining stores will reopen once the lockdown is over by the end of July.

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