COLUMBUS, Ohio, Jan. 17, 2017 /PRNewswire/ -- Limited Stores, LLC ("the Company"), parent company of women's fashion apparel retailer The Limited, today announced that it has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
Concurrently, the Company announced that it has entered into an asset purchase agreement with an affiliate of private equity firm Sycamore Partners to acquire the Company's intellectual property and certain related assets pursuant to Section 363 of the Bankruptcy Code, subject to the receipt of higher or better offers. The ultimate outcome of the filing and any asset sale is subject to the oversight and approval of the Bankruptcy Court. Sycamore Partners has more than $3.5 billion in capital under management and specializes in retail and consumer investments.
Further information on the chapter 11 filing and asset sale process for Limited Stores, LLC is available by visiting www.donlinrecano.com/limitedstores, which will be updated as new information becomes available.
The Limited's legal advisor in connection with the restructuring was Klehr Harrison Harvey Branzburg LLP. RAS Management Advisors, LLC served as its restructuring advisor and Guggenheim Securities, LLC served as its investment banker for the restructuring.
About The Limited
Throughout our history, The Limited offered high-quality, private-label apparel designed to help our clients succeed. Design-driven, fashionable styles include suiting, sweaters, dresses, denim, outerwear, and accessories—to suit her lifestyle demands, from workday to weekend. www.TheLimited.com.
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SOURCE Limited Stores, LLC