Deal to sell Victoria’s Secret is scrapped

Deal to sell Victoria’s Secret is scrapped

Victoria’s Secret owner L Brands said Monday that it had called off a deal with private equity firm Sycamore after the latter sued L Brands seeking to terminate the deal, arguing that Victoria’s Secret’s decision to shut stores and stop paying its rent during the pandemic had violated the terms of the deal. L Brands had agreed to sell a majority of Victoria’s Secret to Sycamore for about $525M.

KCooper
KCooper
dree low
dree low 3 months

Won't be surprised if it's bought by a Chinese state owned company

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