Hundreds of Victoria’s Secret and Bath & Body Works across Canada and the U.S. are permanently closing as retailers struggle to stay afloat amid COVID-19.
On Wednesday, L Brands announced that around 250 Victoria’s Secret and 51 Bath & Body Works stores will close as part of their attempt to persevere through falling sales.
The company’s first-quarter earnings report states that 13 of its 38 Victoria’s Secret stores in Canada will be closed with the remaining closures taking place in the U.S.
There will be 50 Bath & Body Works locations closed in the U.S., and only one in Canada.
L Brands reported their total company sales declined 37 per cent in the first quarter of 2020, which ended on May 2nd.
They also noted that nearly all stores in Canada and the U.S. have been closed since March 17th, in response to the pandemic.
L Brands has not yet provided a list of which Victoria’s Secret and Bath & Body Works locations will be shut down.
Victoria’s Secret currently has 5 locations in Vancouver; Bath & Body Works has 2 stores on Vancouver Island, with one in Victoria.
This announcement follows retail chain Pier 1 revealing they are going out of business, and closing all 540 of their stores in the U.S. and Canada.
Earlier this month, Canadian footwear retailer Aldo and fashion chain Reitmans both filed for creditor protection and went into “restructuring” due to COVID-19.