SpotlightFebruary2017

By Katie Davis S un Capital, the private-equity firm that owns The Limited, makes the decision to close all 250 of its stores and laid off 4,000 workers as it now focuses its business online because of falling foot traffic at shopping malls. The women’s clothing store chain announced the closures in a statement on its website saying, “We’re sad to say that all The Limited stores nationwide have officially closed their doors,” the statement then goes on to say. “But this isn’t goodbye. The styles you love are still available online — we’re just a quick click away 24 hours a day.” “We have worked very hard and made significant investments over nine years to improve operations and create a sustainable business at The Limited,” Sun Capital

told Reuters in an emailed statement. “In an increasingly challenging environment for mall-based retail and women’s apparel, we are very disappointed that the company has had to make the difficult decision to close its retail locations.” The Limited, is not alone and not the only victim to declining consumer traffic at malls and retail outlets as Sears and Macy’s have also announced mass closures will take place in 2017. Sears is planning to close 150 of its and Kmart stores this year, and Macy’s has announced it is planning to close 100 stores with 70 of those announced already in response to consumers spending their shopping dollars online rather than at the malls.

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FEBRUARY 2017 • SPOTLIGHT ON BUSINESS MAGAZINE

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