News Retail

Victoria’s Secret UK Files for Bankruptcy leaving more than 800 jobs at risk.

victoria secret

The lingerie retailer, which has 25 stores across the UK, has hired administrators from Deloitte after being impacted by the coronavirus lockdown. The insolvency firm said it will conduct a “light touch” administration at the retailer, which currently has 785 employees on furlough, while it tries to find a potential buyer. In May, private equity vehicle Sycamore Partners pulled out of a $525 million (£407 million) deal to take a 55 per cent stake in Victoria’s Secret.

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The lingerie brand is just the latest in a long line of businesses that have gone bust during the Covid-19 pandemic.

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