The parent company of women’s clothing store The Limited has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Court, and the store website has been taken offline.
The petition was filed by Limited Stores LLC in U.S. Bankruptcy Court for the District of Delaware. The company also entered into an asset purchase agreement with an affiliate of private equity firm Sycamore Partners.
The firm will acquire Limited Store’s intellectual property and related assets, according to a company statement. Sycamore Partners has more than $3.5 billion in capital under managements, and specializes in retail investments.
The Limited announced earlier this month that all brick-and-mortar locations were closing after Jan. 8. The company had already closed three of its local stores, including one at The Greene Town Center in Beavercreek. The stores offered 90 percent off all inventory.
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The store had initially announced it would sell inventory online exclusively, but the website was taken down on Tuesday. The company announced on its website: “Please know it has been such an honor to provide fashion for you and other strong, confident women for more than 50 years. Unfortunately, we’ve recently had to file Chapter 11 Bankruptcy and can no longer accept purchases.”
The company also announced all orders that have not been shipped have been cancelled, and customers will not be charged. All sales were final after Dec. 14, and returns or exchanges will not be allowed.
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