L Brands’ Victoria’s Secret U.K. Arm Appoints Administrators
- Company appointed Deloitte to renegotiate leases, sell stores
- Administration doesn’t include operations outside the U.K.
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Lingerie chain Victoria’s Secret U.K. arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector.
The unit of Ohio-based L Brands Inc., which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement on Friday.