Victoria’s Secret and Bath & Body Works announced that they will be closing hundreds of stores in Canada and the U.S. as retailers struggle amid the COV-19 pandemic.
L Brands, the parent company of Victoria’s Secret and Bath & Body Works, announced that approximately 250 Victoria’s Secret and 51 Bath & Body Works stores will close. The company will reportedly close 13 of its 38 Victoria’s Secret stores in Canada and 1 of its Bath & Body Works locations.
L Brands reported their total company sales declined 37% in the first quarter ending May 2. Almost all of their stores have been closed since March 17 in response to the pandemic.
Earlier this week, Pier 1 announced that they are going out of business and closing all 540 of its stores in Canada and the U.S. Earlier this month, the Canadian footwear retailer Aldo and the Canadian fashion chain Reitmans both filed for creditor protection and went into restructuring. Furthermore, Neiman Marcus and J. Crew, filed for bankruptcy.