Victoria's Secret owner L Brands said Monday that it had called off a deal with private equity firm Sycamore Partners to take the retailer private, just three months after the two companies reached a $525 million agreement.
"As part of L Brands' strategy, the company remains committed to establishing Bath & Body Works as a pure-play public company," and is preparing for Victoria's Secret to operate as a separate company, L Brands said in a news release.
The deal was already in jeopardy after Sycamore Partners informed Victoria's Secret parent company L Brands of its decision to pull out of the agreement last week.. . . more