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Sycamore seeks court’s approval to pull out of its Victoria’s Secret take over deal

Sycamore seeks court’s approval to pull out of its Victoria’s Secret take over deal
Retail
Wajeeh Khan
Author
Wajeeh K.
Apr 23, 2020, 07:28 AM
  • 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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