top shadow

current news

Victoria’s Secret UK Division In Bankruptcy

(Filed Under wholesale Lingerie News). L Brands placed Victoria’s Secret’s U.K. division into a form of bankruptcy. The move did not warrant a press release or even an SEC filing by the parent company.

The early June filing, first reported by the Wall Street Journal, allows the company to delay payments to creditors while management runs the company under the supervision of court administrators.

According to published reports the overseas branch, which currently operates 21 Victoria’s Secret shops in the U.K. and Ireland, as well as five Pink stores in the U.K., employs over 800 people. It had an operating loss of $214 million on sales of about $160 million in the most recent fiscal year.

In late May, L Brands’ CFO (and Victoria’s Secret interim CEO) Stuart Burgdoerfer had said in a conference call that work was underway to address losses in operating income and EBITDA for the lingerie divisions “in the UK and China,” adding, “we are looking at all options with respect to those geographies in those markets.” — NM

more wholesale Lingerie News >>

Published 06-17-2020 by Nick Monjo

Related Articles

Victoria’s Secret: Has It Begun To Stabilize?
Q2 VS, Pink Sales Are Expected To Fall 40%
Victoria’s Secret UK Division In Bankruptcy
VS Q1 Sales Fall 46%; 250+ Shops Will Close
Victoria’s Secret Now To Be Stand Alone Firm
Sycamore Moves To Terminate VS, Pink Deal
Victoria’s Secret Just Reopened Online Store
VS, Pink Now Close Online Stores Til 3.30
VS, Pink Sales Fell 8% In 2019 To $6.8 Billion
Sycamore Buying Majority Of Victoria’s Secret

Comment on this article, brand or product

Disclaimer: The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.

NOTE: Your Email will not be displayed.

Related pictures

Follow BODY on:
twitter FaceBook RSS
Share this article on:
Digg Reddit Stumble

Contact Information: (718)676-4444
Copyright © 2020 Fashion Market Magazine Group, Inc. All rights reserved.
All photos Copyright © 2000-2020 Nick Monjo & Fashion Market Magazine Group. All rights reserved.
Please email any website related issues to
bottom shadow