Victoria's Secret Closing Down 25% of North America Stores

May 22, 2020

Photo by AP Photo Alan Diaz

Victoria's Secret says it's closing a quarter of their stores in North America in the coming month, according to CNN. L Brands (LB), which owns the chain, says that its plan to close 250 stores could lead to more stores closing in the future. LB North America CFO Stuart Burgdoerfer said Thursday that the closings are supposed to "strengthen" the company, which has been struggling for some time. A deal where a private firm would take over Victoria's Secret was scrapped amid the coronavirus pandemic. L. Brands also owns Bath & Body Works; they're closing 50 of those stores as well.