As sales plunge due to COVID-crisis, Victoria Secret to pull the shutter on over 250 stores

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Coronavirus has a new target and this time it's our beloved lingerie chain, Victoria's Secret that is suffering.

With its parent company filing for a multi-million loss, the lingerie chain has decided to close down approximately a quarter of their stores and it's not great news on a hump day! 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Victoria's Secret (@victoriassecret) on

 

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The closures will represent nearly a quarter of Victoria's Secret's 1,091 locations in North America, and L Brands will also permanently shut down 50 Bath & Body Works in the U.S. and Canada. Sales at the label crashed to half this May, with the brand becoming the latest casualty to the global pandemic. Bath & Body also suffered a drop of 18% in their sales. 

Victoria's Secret and Bath & Body Works stores have remained shut since March 17, even in states where lockdown restrictions on retailers have eased. The parent company is now testing on opening some stores to get a kickstart on business while following all safety precautions necessary. 

Well, hard times for everyone innit? 

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(SOURCE: DailyMail.uk) 

 

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