Victoria's Secret parent L Brands has ended a deal with private equity firm Sycamore to sell a 55% ... [+] stake of the struggling lingerie chain. L Brands said late Monday that it and Sycamore had decided to end an agreement struck only in February for the private equity firm to acquire a 55% stake of Victoria’s Secret. Ending the deal is one thing; getting Victoria’s Secret back on track is another. Victoria’s Secret rival J. “We believe the termination of the transaction could add liquidity and solvency risks to shares of L Brands,” Wedbush analyst Jen Redding said in a recent report.

Source: Forbes May 04, 2020 23:42 UTC