Environmental, Social & Governance (ESG)
Victoria's Secret Owner Unveils Plan B After Sycamore Walks Away
By Jordyn Holman
May 4, 2020, 10:07 PM
Bath & Body Works to be operated as standalone public company
L Brands to provide more details during May 21 earnings call
L Brands Inc. agreed to cancel a deal that would have given private equity firm Sycamore Partners control of beleaguered lingerie chain Victoria's Secret, which now faces an uncertain future as a standalone business in a ravaged retail industry.
Now, L Brands will operate its Bath & Body Works as a standalone public company, while attempting to turn around the lingerie brand as a separate entity. Sycamore Partners and L Brands also agreed to settle all pending litigation, the companies said in statements on Monday.
Shares of L Brands fell as much as 18% to $9.82 in late trading on...
Jordyn Holman