US-based women’s apparel retailer, The Limited has recently announced that it is going to close all of its stores across the country by the end of this week. This move will affect about 4,000 jobs, including temporary ones. The brand is planning to sell the merchandise solely online.
The Limited, founded in Columbus, Ohio, in 1963, grew to more than 700 stores in the 1990s but pared its store count in recent years. Subsequently, in 2016, the chain operated 250 stores. The chain has already ceased operations at several stores in recent weeks, including a store t chesterfield, it would be offering “highly discounted prices” on merchandise until all its doors close for good Sunday.
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Private equity firm Sun Capital Partners purchased The Limited outright in 2010 after owning a majority stake in the retailer since 2007. The retailer is one of several retail chains that have recently seen reverse trend as consumers increasingly buy merchandise online.
