The Limited Stores Files for Bankruptcy
The Limited, which has already shuttered its once ubiquitous stores, took another major step Tuesday toward fading from the retail landscape by filing for bankruptcy protection. Citing its declining financial performance, the Ohio-based women's clothing company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. Before taking this latest step, the company had already closed the roughly 250 stores that it operated in 42 states, and also shut down its website.
Total Retail's Take: This is just the next step in The Limited's move to liquidation and ultimately going out of business. This isn't a case of filing Chapter 11 in an attempt to reduce debt, reorganize the business and come back stronger as a company. The Limited will soon be no more, another casualty among brick-and-mortar retailers that have been unable to compete in an increasingly digital retail environment.
