Victoria’s Secret, sale at risk

Victoria’s Secret, sale at risk

The sale of Victoria’s Secret company is at risk, due to the financial difficulties caused by the Coronavirus pandemic. Last February L Brands, which owns the lingerie brand, announced the agreement with the private equity firm Sycamore Partners to sell 55% of Victoria’s secret. Now, however, the parent company does not rule out the risk that the operation may be canceled because of factors that could affect the business. The operation, valued at 525 million dollars (about 475 million euros), is expected to be completed by the second quarter of 2020 and also brings with it a series of changes in management. Once the transition is closed, Leslie H. Wexner will resign from the position of CEO and chairman of the board of L Brands, being replaced in the latter position by Sarah E. Nash, remaining a member of the board as emeritus president.
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