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L Brands To Spin Off Victoria's Secret Brand

L Brands plans to separate Victoria's Secret as a standalone company following the termination of its agreement to sell the business to Sycamore Partners. The deal was announced in February, but after COVID-19 prompted the temporary closing of stores, tensions between the two companies flared. L Brands accused Sycamore of “buyer’s remorse” in trying to back out of the deal, reports Chain Store Age.

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