Victoria’s Key, the US lingerie retailer that attracted criticism for its fashion displays featuring supermodel “angels”, is remaining bought by non-public fairness in a $525m (£407m) deal.
It opened its initially British isles retail outlet in 2012, along with other people in Europe and South America, though the chain may wish it had not unfold by itself so thinly overseas.
The small business, which has 25 stores in the British isles, posted losses that balloon to £170m last calendar year, up from £48m two a long time back, largely dragged down by onerous leases. It received a dollars injection really worth £11m from its owner in October, the most modern accounts clearly show, and warned that it did not have ideas to expand further in the British isles.
L Brands, which also owns Bathtub & System Functions in the US, has sold a managing stake in the having difficulties chain,