The Limited To Close All Brick-And-Mortar Shops
WASHINGTON (AP) — More grim news for malls came Friday as apparel retailer The Limited said it will close all its brick-and-mortar stores at the end of this weekend.
The company says it will continue to operate online only after the Jan. 8 closures. A spokesman said the New Albany, Ohio-based chain operated about 250 retail stores in 2016 and that about 4,000 jobs, including seasonal and temporary ones, would be lost.
The announcement came just two days after Macy's said it would move forward with plans to close 68 retail stores and would cut more than 10,000 jobs. Sears also announced Thursday that it would close another 150 stores as clothing retailers continue to struggle to compete as consumers increasingly buy online.
Limited Stores, founded in 1963, says it has already ceased operations at several stores in recent weeks and would be offering "highly discounted prices" on merchandise until all its doors close for good Sunday.
Private equity firm Sun Capital Partners purchased The Limited outright in 2010 after owning a majority stake in the retailer since 2007.
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