Limited Stores LLC is cutting jobs while facing a possible permanent shutdown. The New Albany, Ohio-based women’s apparel retailer filed a notice with the Ohio Department of Job and Family Services saying it could lay off up to all 248 employees at its home office and shutter that facility in the wake of disappointing sales. Layoffs began immediately. Limited stores are open and the website is still operating. Limited, in a letter sent to employees last week, said that if a buyer isn’t found, it would shut the chain down due to a combination of missed sales targets and “significant debt obligations.”
Total Retail’s Take: Another mall-based retailer that is on the verge of extinction. The Limited has fallen on hard times as of late, saddled with decreased sales and increased costs. The fact that the business may be going under shouldn’t be too big of a surprise. The owner of Limited Stores, private equity firm Sun Capital Partners, has been trying to sell the business for the last month, and recent executive departures — CEO Diane Ellis; and Jenn McClain-De Jong, executive vice president, e-commerce and marketing — gave the indication that the end may be near for the women’s apparel retailer. Hopefully a buyer will emerge for Limited and breathe new life into the brand.