Columbus, Ohio — Limited Stores LLC, parent company of women's fashion apparel retailer The Limited, has filed for Chapter 11 bankruptcy protection.
The retailer began closing all 250 of its stores earlier this month. Concurrently, the company has entered into an asset purchase agreement with an affiliate of private equity firm Sycamore Partners to acquire the company's intellectual property and certain related assets.
The ultimate outcome of the filing and any asset sale is subject to the oversight and approval of the United States Bankruptcy Court for the District of Delaware.
Sycamore Partners has more than $3.5 billion in capital under management and specializes in retail and consumer investments. The Limited's legal advisor in connection with the restructuring was Klehr Harrison Harvey Branzburg LLP. RAS Management Advisors LLC served as its restructuring advisor and Guggenheim Securities LLC served as its investment banker for the restructuring.