L Brands closing 300 stores

The parent company of Victoria’s Secret and Bath & Body Works is closing hundreds of stores as it grapples with lost revenue from the coronavirus crisis.

The company, which sold itself earlier this year, only to see the deal fall apart earlier this month, has announced direct action instead. The company will close 250 Victoria’s Secret locations as well as 50 Bath & Body Works stores.

L Brands was once a powerhouse retailer known as Limited Brands, whose portfolio at its peak included the Limited, Abercrombie & Fitch, Lerner and Henri Bendel.