L Brands, the parent company of Victoria’s Secret and Pink has announced that they will be closing more than 250 stores in the U.S. and Canada after being hit hard by the coronavirus pandemic.
The company also said that they will be closing 50 of their Bath and Body Works stores.
“We would expect to have a meaningful number of additional store closures beyond the 250 that we’re pursuing this year, meaning there will be more in 2021 and probably a bit more in 2022,” Interim Victoria’s Secret CEO Stuart Burgdoerfer said in a call with analysts.
Almost all of their stores have been closed since March 17 because of the coronavirus pandemic.
Their parent company says that the remaining stores will open throughout the next few months, with the majority being open by the end of July.