The parent company of Victoria's Secret and Bath & Body Works will close around 250 locations as the coronavirus pandemic continues to pummel the retail industry.
Approximately 250 Victoria’s Secret and Bath & Body Works stores will close in the United States and Canada, according to a first-quarter report from L Brands.
During the first quarter that ended May 2, L Brands sales dropped 37 percent.
“We are closely evaluating all locations, especially more vulnerable centers for risk of closure,” the report said, “We are also actively evaluating strategic alternatives to reduce or eliminate losses in the U.K. and China.”
Nearly all its stores have been closed since March 17 due to the coronavirus pandemic.