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