Victoria’s Secret, Bath and Body Works to Close 300 Stores
Jamie Squire/Wang He
Already struggling retailers are being hit hard by having to close their stores due to COVID-19.
USA Today reports that L Brands will be permanently closing 300 stores in the U.S. and Canada this year. L Brands is the parent company of Victoria's Secret and Bath and Body Works. 250 Victoria's Secret locations will close permanently and 50 Bath and Body Works locations will close.
According to USA Today, L Brands company sales declined by 37% in the quarter that ended on May 2, 2020. Nearly all of L Brands' stores have been closed since March 17. There are 1,091 Victoria's Secret stores in the U.S. and Canada. L Brands will be closing 235 U.S. Victoria's Secret stores, three pink stores, and 38 stores in Canada.
Earlier this month, Pier 1 Imports announced they will be closing all of their stores in the U.S. This announcement comes after filing for bankruptcy earlier this year. JCPenney also announced that they were filing for bankruptcy this month. It's rumored that Amazon could be buying old JCPenney locations.
Victoria's Secret has locations in Poughkeepsie, Middletown, Nanuet, and Nyack. There are Bath and Body Works locations in Poughkeepsie, Middletown, Newburgh, and Nyack.