Fashion retailer The Limited in St. Clair Square mall will close Jan. 7, an employee at the store confirmed Saturday morning.
Though higher-ups at the New Albany, Ohio-based company would not confirm the closure, the Fairview Heights location, along with all other St. Louis region locations, will all close in the next few weeks, the St. Louis Business Journal reports. The Fairview Heights store employee declined to provide her name.
The store’s website advertised discounts of 50 percent off with a banner reading, “All sales final. Please allow 10 business days for processing.”
In late November, the company warned the state of 246 possibly permanent layoffs at its headquarters, saying, “It is even possible that we could close our home office altogether.” Missed sales goals combined with “financial obligations” mean the company will either have to “wind down” its operations or sell itself off, according to a letter from the company to state officials.
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Limited Stores is rumored to be planning for bankruptcy and liquidation, Bloomberg Markets reported in December. The company struggled recently to keep up with online sales and a consumer shift away from malls, Bloomberg reports.
There are also Limited stores at St. Louis Premium Outlets in Chesterfield; West County Center in Des Peres; Saint Louis Galleria; Chesterfield Mall and Mid Rivers Mall in St. Peters, according to the St. Louis Business Journal.
The Limited was founded in 1963 in Columbus, Ohio, according to the company’s website. The company went public in 1969 and opened its 100th store in 1976. It was acquired by investment firm Sun Capital Partners, Inc. in 2007. The firm is focused on leveraged buyouts, private equity, debt and other investments.