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Victoria's Secret to close 250 stores in US, Canada forever

19:12, May 21

Victoria's Secret has announced plans to permanently close 250 stores in the US and Canada in 2020.

The brand has 849 stores in North America. Most of these places have remained closed since March due to the COVID-19 pandemic.

To get the brand out of crisis and restore the previous sales pace, Victoria’s Secret planned to sell a controlling stake in Sycamore Partners, a private investment company. However, the deal did not take place amid the COVID-19 crisis - and the company had no choice but to close its stores.

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