May 24, 2017 8:59 AM ET

Specialty Retail

Company Overview of Limited Stores LLC

Company Overview

Limited Stores LLC, doing business as The Limited, operates a network of retail stores that sell apparel and accessories for young women in the United States. The company retails dresses, sweaters and cardigans, blouses and shirts, camis and tanks, tops and tees, pants, exact stretch pants, denims, leggings, jackets and blazers, outerwear, skirts, and suits; lounge wear; jewelry, such as necklaces, earrings, bracelets, everyday jewelry, broaches and pins, and hair accessories; and accessories, including handbags, scarves and hats, belts, and legwear. It also sells apparel, accessories, and jewelry online. The company was founded in 1963 and is based in New Albany, Ohio. It has store location...

7775 Walton Parkway

4th Floor

New Albany, OH 43054

United States

Founded in 1963

Phone:

614-289-2200

Fax:

614-540-0655

Key Executives for Limited Stores LLC

Co-President
Age: 59
Senior Vice President and General Merchandise Manager
Senior Vice President of Stores
Age: 50
Compensation as of Fiscal Year 2016.

Limited Stores LLC Key Developments

Motion for Asset Sale Approved for Limited Stores Company, LLC

The US Bankruptcy Court gave an order approving the sale of certain assets of Limited Stores Company, LLC on March 8, 2017. The debtor has been authorized to sell its certain assets to Hilco Wholesale Solutions, LLC for a purchase price of $0.88 million. The debtor had filed a motion for sale of certain assets on February 17, 2017. The debtor’s assets include approximately 266,806 pieces of first quality goods owned by the debtors and located at their e-commerce fulfillment center at 5389 East Provident Drive, Cincinnati, Ohio, 45246. At the auction held, Hilco Wholesale Solutions, LLC emerged as the winning bidder by offering a purchase price of $0.88 million.

Motion for Asset Sale Approved for Limited Stores Company, LLC

The US Bankruptcy Court gave an order approving the sale of certain assets of Limited Stores Company, LLC on February 23, 2017. The debtor has been authorized to sell its certain assets to Limited IP Acquisition LLC, for a purchase price of $26.75 million in cash plus assumption of obligations under the executory contracts pursuant to the amended and restated asset purchase agreement dated January 31, 2017. The debtor’s assets include substantially all the assets of Limited Stores, LLC and The Limited Stores GC, LLC. The purchaser deposited an initial deposit of $1.29 million and an additional deposit of $24.96 million into an escrow account. At the auction held, Limited IP Acquisition LLC emerged as the winning bidder by offering a purchase price of $26.75 million in cash. Sunrise Brands LLC was designated as the backup bidder, valid up till the earlier of closing of sale to purchaser or March 9, 2017, pursuant to the asset purchase agreement of the backup bidder.

Bidding Procedure Approved for Limited Stores Company, LLC

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Limited Stores Company, LLC on February 17, 2017. The Court approved the sale of debtor’s de minimis assets through an auction without any further need of approvals if the sale price is less than $0.05 million. The court also granted approval to debtor to sell assets with price between $0.05 million and $0.25 million provided that it does not receive any objections with 7 working days of serving transaction notice.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 17, 2017
Limited Stores LLC, Certain Related Assets
 

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