The Limited closes stores but stays online
US apparel retailer The Limited is out of the brick-and-mortar retail business.
Quietly closing stores around the US during the past couple of weeks, the ailing chain announced the news with a short statement on its website. The move was not unexpected as The Limited has been struggling amid increased competition from fast-fashion upstarts, both offline and online.
“We’re sad to say that all The Limited stores nationwide have officially closed their doors,” the company’s statement said.
But the retailer has not filed for bankruptcy, saying it will continue its online business. There has been no indication from the company whether or not this is a temporary move to sell off inventory.
Owned by US global investment firm Sun Capital Partners, The Limited has been laying off headquarters staff since early December.