The move comes after several months of turmoil in the company’s executive offices
The Limited, the 53-year-old women’s apparel chain that also sold jewelry, is closing all its 250 stores.
“We’re sad to say that all The Limited stores nationwide have officially closed their doors,” said a note on its site. “But this isn’t good-bye. The styles you love are still available online. We’re just a quick click away, 24 hours a day.”
Some 4,000 employees are reportedly affected.
The chain’s owner, private equity firm Sun Capital Partners, said in an email quoted by Reuters: “In an increasingly challenging environment for mall-based retail and women’s apparel, we are very disappointed that the company has had to make the difficult decision to close its retail locations.”
However, despite the chain’s dissolution, Sun Capital still managed to profit, the news agency said, earning 1.8 times its original investment.
The move comes after several months of turmoil in the company’s executive offices. In early November, CEO Diane Ellis resigned. She was replaced on an interim basis by John Buell, who left in December.
Founded in 1963 in Columbus, Ohio, The Limited claims to have invented “mall-based specialty retailing as we know it.” It went public six years after its founding and at one point numbered 772 stores.