Victoria's Secret's parent company L Brands is permanently shuttering 250 stores in the US and Canada in 2020.<br />According to Business Insider, L Brands reported first-quarter earnings for 2020 after the market close on Wednesday.<br />Of 849 Victoria's Secrets stores in North America, most have remained closed since March after the coronavirus pandemic hit the US.<br />News of the closings come just weeks after L Brands confirmed that a deal to sell a majority stake in the company had fallen through.<br />Analysts hoped the private-equity firm Sycamore Partners would execute a turnaround after several years of sliding sales.
