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Another Major Retailer Preparing For Bankruptcy, 240 Stores Closing - THOMAS DISHAW.COM


Another Major Retailer Preparing For Bankruptcy, 240 Stores Closing

The Limited looks set to be the first retailer to file for bankruptcy in 2017.

The 240-store chain, which like other women’s apparel clothing stores has been struggling with declining traffic at many malls and a surfeit of merchandise on the market, is planning to file for Chapter 11 bankruptcy protection in the coming weeks, with liquidation the likely, Bloomberg News reported this week.

The company did not immediately respond to a request from Fortune for comment but last month told various news outlets it was “exploring a number of options that would provide the company with greater financial flexibility.”

Bloomberg said The Limited would try to emerge as a going concern after bankruptcy. Last month, the Wall Street Journal reported that Guggenheim Securities and RAS Management Advisors had been hired to help with a debt restructuring and any asset sale, citing sources.

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