Victoria’s   Victoria’s Secret to permanently close 250 stores in US/ Canada as COVID-19 pandemic cripples its business

Victoria’s Secret’s parent company, L Brands, on Wednesday announced that it will permanently close 250 stores in the US and Canada in 2020.

The news comes just weeks after its parent company confirmed that a deal to sell a majority stake in the company to the private-equity firm Sycamore Partners had fallen through.

L Brands reported first-quarter earnings for 2020 after the market close on Wednesday. 

Victoria’s Secret to permanently close 250 stores in US/ Canada as COVID-19 pandemic cripples its business