Victoria Secret UK On Verge Of Bankruptcy
The lingerie giant empire of Victoria’s Secrets has become the next victim due to the Covid-19 pandemic. According to the local news from the UK, the owner, L Brands Inch filed for protection from creditors last Friday, June 5.
As reported, L Brands Inc has over 800 employees and 25 stores worldwide and has been shut down for weeks due to this lockdown. As the company administration was likely filing for bankruptcy and provided a certain timeline to run the business with the consent of the administrators.
As statistics have shown, this retail company stores in the UK have lost more than 170 million pounds as of February 2019. However, the business outside the UK so far is still reported not to be affected.