Sycamore seeks court’s approval to pull out of its Victoria’s Secret take over deal
- Sycamore wants to pull out of its agreement with L Brands to take over Victoria's Secret.
- L Brands says it will fight Sycamore's lawsuit that it filed on Wednesday in a Delaware court.
- The retailer withdrew £769 million from its credit line to support its liquidity amidst COVID-19.
Sycamore Partners filed a lawsuit on Wednesday in a Delaware court that highlighted the private equity firm seeking to withdraw its deal involving Victoria’s Secret’s take over from its current owner L Brands (NYSE: LB).
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