Business

Lingerie chain Victoria’s Secret UK enters liquidation

Victoria’s Secret UK has moved out of administration and into liquidation.

The UK arm of the lingerie retailer went into administration last year.

A spokesman for administrators Teneo said a judge has approved a move into liquidation.

He said the move would enable dividends to be paid to creditors.

Judge Sally Barber considered the case at a hearing in the UK’s Insolvency and Companies Court earlier this week.

The retailer said it had hired administrators in June 2020 after being affected by the coronavirus lockdown.

Bosses said then that Victoria’s Secret’s online business was not owned by Victoria’s Secret UK and would continue as usual.

Source:

www.breakingnews.ie

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