Sale of Victoria’s Secret in jeopardy as buyer tries to back out

A private-equity firm poised to buy a majority stake in Victoria’s Secret wants out of the relationship. Sycamore Partners, which agreed in February to buy 55 percent of the company for $525 million and take it private, said in a court filing that the retailer’s response to the pandemic violated the terms of the arrangement. Sycamore pointed to parent company L Brands’ decision to furlough employees, cut salaries and close stores during the pandemic as

source https://therealdeal.com/2020/04/23/sale-of-victorias-secret-in-jeopardy-as-buyer-tries-to-back-out/