Women’s fashion retailer The Limited announced on their official website that all 250 stores nationwide have closed.
“But this isn’t goodbye,” the announcement added, saying their products are still available online. All sales are non-refundable and can’t be exchanged, however, according to their new policy, which took effect Dec. 14.
Executives in the New Albany, Ohio-based company previously declined to confirm the closures, but store employees nationwide began confirming the planned closures shortly before the new year. There are also Limited stores at St. Louis Premium Outlets in Chesterfield; West County Center in Des Peres; St. Louis Galleria; Chesterfield Mall and Mid Rivers Mall in St. Peters, according to the St. Louis Business Journal.
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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.
The Limited 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.
Macy’s also had bad news for shoppers last week. The retailer announced it will cut 10,000 jobs and close 68 stores nationwide.
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.