Victoria’s Secret has had a rough few years, with hundreds of closures even before the Covid-19 pandemic hit.
Now, L Brands — their parent company — is prepping for a new round of closures, and once again, they’re on our 2021 bankruptcy and closure watch.
There are also some more changes coming for another one of the L Brands companies, Bath & Body Works.
Here’s what you need to know:
In 2021, L Brands will close up to 50 more Victoria’s Secret stores.
Although Victoria’s Secret saw better than expected sales at the end of 2020, they’re still hurting from Covid-19 closures earlier in the year.
Nearly 250 stores closed for good in 2020, and L Brands announced that another 30-50 will close in 2021.
Since 2019, they’ve closed 38% of all stores.
Keep an eye out for Victoria’s Secret closing sales.
There aren’t any specific details about Victoria’s Secret liquidation sales — or even the specific stores on the chopping block — but closures = closing sales.
Generally speaking, most of these sales last 8-12 weeks, depending on inventory. While discounts increase over time, like up to 90% off, you won’t want to wait that long because the best stuff will be gone.
More Bath & Body Works mall stores are closing, too.
In 2020, L Brands closed 30 Bath & Body Works locations in the U.S., but opened 26 new non-mall stores and 1 high-traffic mall location.
They’re pretty much working to get out of malls in 2021, too, with 40 mall locations on the chopping block in 2021. But they’ll replace them with 49 new Bath & Body Works locations in the U.S. and 1 in Canada, “almost entirely off-mall.”
Victoria’s Secret could have a new owner really, really soon.
Yeah, I know. We’ve heard it before. But L Brands continues to say that they’re planning to sell off the Victoria’s Secret brand for the long-term health of their business. They’ve done it before with The Limited, Structure, Express and Abercrombie & Fitch.
The New York Times reported that L Brands could start receiving buyout/takeover plans around March 1.
When you shop, look for price tags ending in $0.99.
If you see an item ending in $0.99, it’s a clearance item, and there are likely to be lots of these at closing locations. Look for these in bins inside the store or under the “Sale” tab at VictoriasSecret.com.
Learn more tips and tricks to save at Victoria’s Secret with The Krazy Coupon Lady.