Retailer Limited Stores Hires Financial Adviser to Help Explore Possible Sale
19 November 2016 - 8:10AM
Dow Jones News
Women's apparel retailer The Limited Stores has hired Guggenheim
Partners as financial adviser to explore a possible sale, people
familiar with the matter said.
The retailer, which is backed by Florida private-equity firm Sun
Capital Partners Inc., has been struggling recently because of the
declining traffic at malls and industry headwinds that have led to
the recent bankruptcy filings of other retailers.
These people said potential buyers include retail competitors
and financial firms. A restructuring could also be a possibility,
these people added.
"Limited Stores is exploring a number of options that would
provide the company with greater financial flexibility," a company
spokesperson said Friday.
Sun Capital declined to comment while Guggenheim didn't respond
to requests for comment.
The Limited was founded in 1963 in Columbus, Ohio, and later
went public in the early 1980s. In 2007, L Brands Inc., the current
owner of Victoria's Secret and Bath & Body Works, agreed to
sell a 75% stake in the company to Sun Capital. The retail-focused
private-equity firm had chipped in $50 million of equity and lined
up a $75 million loan to buy Limited Stores.
Write to Lillian Rizzo at Lillian.Rizzo@wsj.com
(END) Dow Jones Newswires
November 18, 2016 15:55 ET (20:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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