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Environmental, Social & Governance (ESG)

Victoria’s Secret Owner Unveils Plan B After Sycamore Walks Away

May 4, 2020, 10:07 PM

L Brands Inc. agreed to cancel a deal that would have given private equity firm Sycamore Partners control of beleaguered lingerie chain Victoria’s Secret, which now faces an uncertain future as a standalone business in a ravaged retail industry.

Now, L Brands will operate its Bath & Body Works as a standalone public company, while attempting to turn around the lingerie brand as a separate entity. Sycamore Partners and L Brands also agreed to settle all pending litigation, the companies said in statements on Monday.

Shares of L Brands fell as much as 18% to $9.82 in late trading on...

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