Limited Takes Further Steps In Restructuring

COLUMBUS, OH-Limited Brands’ management is still trying to sell its Limited clothing chain and is also exploring the sale of real estate investments and other non-core assets. The announcement follows last month’s statement by executives that the company is selling a majority of its 631-unit Express chain to a private-equity firm for $541 million, a move that has passed federal regulations.

Management is restructuring the company to focus on intimate apparel and personal care chains, such as its Victoria’s Secret and Bath & Body Works stores. The company is growing both of those chains, which total more than 2,500 units.

Limited is also cutting about 10% of the 5,300-person workforce in its corporate and brand-home offices. Executives do not plan to eliminate workers in stores, distribution warehouses or call centers.