Though there’s been no official word from the principals, Reuters reports sources close to the deal have confirmed Sycamore Partners won the one-time mall darling in the bankruptcy auction. Next, the purchase just has to be approved by a U.S. bankruptcy court.
Those sources also say the private equity firm beat out Sunrise Brands, which owns the Melissa McCarthy and Eva Longoria labels.
Sycamore Partners owns apparel brands and retail chains, including Belk department stores, the Kasper clothing brand, Nine West apparel and footwear and Talbots women’s wear.
The Limited spiraled throughout the second half of 2016, ultimately leading owner Sun Capital Partners to close all 250 doors, release 4,000 employees and file for bankruptcy. Like American Apparel, PacSun, Wet Seal and a long list of others, the retail chain was unable to stay afloat when hit with changing consumer tastes and the ebb in mall traffic.
The company’s website alerts shoppers that it has filed for bankruptcy and any orders that had not shipped have been canceled. A message reads “Sorry… Thelimited.com is closed temporarily. Please know it has been such an honor to provide fashion for you and other strong, confident women for more than 50 years.”
Beyond profits and losses, the third quarter retail earnings calls revealed some key strategies related to off-price, holiday and sourcing strategies.Read more
Primark and Sports Direct, are being called out by the Department for Business, Energy and Industrial Strategy (Beis) for underpaying their workers.Read more
Edited, a leading data authority, unveiled five groundbreaking trends that may shake up retailers, consumer activity and supply chains in 2018.Read more
In a letter to business partners and suppliers, Blue Farm Textiles announced that it will dissolve Blue Farm Textile Limited after July 1, 2018.Read more
The e-commerce juggernaut is proving to be quite challenging for shippers and suppliers this holiday season, with more than two weeks to go.Read more
Under Armour strengthened its digital division with two new executive appointments, plus MSYG promoted several members of its U.S. manufacturing team.Read more
G-Star Raw, a purveyor in innovative denim design, is minimizing the industry’s carbon footprint with its new sustainable G-Star Elwood RFTPi jean.Read more