Retail fallout: Victoria’s Secret sale scrapped, Neiman Marcus nears restructuring deal

With their stores still closed, these struggling retailers are pursuing new plans. L Brands, the parent company of lingerie retailer Victoria’s Secret, has canceled its deal with private equity firm Sycamore Partners, which agreed in February to buy 55 percent of the company for $525 million and take it private, Bloomberg reported. In a court filing last week, Sycamore had argued that L Brands’ decision to furlough employees, cut salaries and close stores during the

source https://therealdeal.com/2020/05/05/retail-fallout-victorias-secret-sale-scrapped-neiman-marcus-nears-restructuring-deal/