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Victoria's Secret's UK business falls into adminstration, putting 800 jobs at risk

Victoria's Secret's UK business falls into adminstration, putting 800 jobs at risk
Jonathan Brady/PA Images via Getty Images



The UK arm of Victoria's Secret went into administration on Friday, filing for protection from its creditors, in a move that could end up in this portion of the business being sold.




Victoria's Secret CEO said that the news would not have an impact on any of its other stores around the world and that its UK online store would operate as normal.




While the lingerie retailer has been hard hit by the pandemic, its struggles predate this period.




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The UK arm of Victoria's Secret went into administration on Friday, putting more than 800 jobs at risk.
This effectively means that it has filed for protection from its creditors.
Victoria's Secret's CEO Stuart Burgdoerfer said in a statement that the company had appointed Deloitte to work with Victoria's Secret UK in a "light touch" administration deal in which they will "seek to restructure the UK lease terms, explore options for a sale of that portion of the business, or other alternatives."
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