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Victorias's Secret will permanently close 250 stores in the US and Canada as the pandemic cripples its business

Victoria's Secret's parent company, L Brands, announced Wednesday that it will permanently close 250 stores in the US and Canada in 2020.

Victoria Secret
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Victoria's Secret announced Wednesday that it plans to permanently close 250 stores in the US and Canada in 2020.

The news comes just weeks after its parent company confirmed that a deal to sell a majority stake in the company to the private-equity firm Sycamore Partners had fallen through.

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