The Limited has been struggling mightily lately, leading to the company’s decision to shut down a quarter of a thousand stores around the U.S.
The female apparel retailer has been one of the many victims of the slumping retail market that has caused industry-wide panic regarding the future of these companies, especially regarding brick-and-mortar locations. All of The Limited’s 250 physical locations will shut down in the coming months.
As a result, 4,000 workers will lose their jobs. The company is claiming that it still has value and the necessary means to move forward without a brick-and-mortar presence as we live in a time where e-commerce dominates the retail industry anyways.
You can still buy The Limited products online at the company’s website, and the retailer is hoping to ramp up sales by placing everything at a 50% discount. All sales are final.
Slumping sales have led the company to amass great amounts of debt, which led to Chief Financial Officer Larry Fultz writing a letter to employees, informing them that the only way for The Limited to stay afloat is by selling these stores.
Whether or not the business remains open is anyone’s guess, but a sale is not off the table as Fultz and co. hired a financial advisor from Guggenheim Partners, LLC to help the company explore a potential sale.
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