Limited Stores Is Said to Plan for Bankruptcy and Possible Liquidation

Limited Stores is planning to file for bankruptcy within weeks and most likely liquidate its business, according to people with knowledge of the matter.

The struggling retailer has retained Kirkland & Ellis as its legal adviser, said the people, who asked not to be named because the hire is private. Guggenheim Securities and RAS Management Advisors have been hired to help with a debt restructuring and any asset sale, the people said.