New York-based Sycamore Partners, a private equity firm specializing in retail and consumer investments, has grabbed the winning bid for the e-commerce business and intellectual property of bankrupt US women’s apparel retailer The Limited with a bid of US $ 26.8 million. However, officials from both sides yet to comment on the latest development.
Earlier this year The Limited closed the roughly 250 stores that it operated in 42 states after failing to find a buyer willing to keep the company operating, and also shut down its website and filed for bankruptcy last month.
Also Read – Apparel brand The Limited files for Bankruptcy
Department store chain Belk, footwear and accessories line Nine West and online-only women’s apparel company Coldwater Creek make retail portfolio of Sycamore Partners. The intellectual property of Coldwater Creek was acquired by Sycamore Partners’ through bankruptcy proceedings in 2014.
