Parent Company of The Limited Files for Chapter 11 Bankruptcy

by San Antonio Attorney

Limited Stores LLC filed for Chapter 11 bankruptcy, and its online store has been taken down.

The company’s petition was filed in a bankruptcy court in Delaware.  The women’s clothing store also took on an asset purchase deal with an associate of Sycamore Partners, a private equity firm.

The firm is going to buy intellectual property and associated assets of the Limited Stores, the company said in a release statement.  Sycamore Partners focuses in retail investments with over $3.5 billion in capital.

The Limited said all its store locations were to be closed after January 8.  Three of its local stores have already been closed.  The stores provided 90% off all supplies.

At first, the store planned to sell the inventory the inventory through its website, but it was taken down.  According to the Limited Stores’ website, they had to file for bankruptcy and stop accepting purchases after over 50 years of providing clothing to women.

The Limited also said all orders that will no longer be delivered, and customers are not going to be charged.  By Dec.  14, all purchases were final and they will no longer accept any returns or exchanges.

San Antonio Attorneys can help make sure you file a bankruptcy petition correctly and that you follow all the steps.  Lawyers can also help you achieve the maximum benefit of your bankruptcy.

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