Victoria’s Secret aims for a makeover by going private

Victoria’s Top secret, the US lingerie retailer that captivated criticism for its fashion reveals that includes supermodel “angels”, is becoming purchased by non-public equity in a $525m (£407m) offer.

It opened its initial United kingdom retailer in 2012, together with other people in Europe and South The us, even though the chain could wish it experienced not distribute by itself so thinly overseas. 

The company, which has 25 retailers in the United kingdom, posted losses that balloon to £170m very last 12 months, up from £48m two a long time ago, mostly dragged down by onerous leases. It obtained a money injection well worth £11m from its operator in Oct, the most new accounts exhibit, and warned that it did not have strategies to grow more in the United kingdom. 

L Brand names, which also owns Bathtub & System Functions in the US, has sold a managing stake in the

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