Limited shuttering all U.S. stores, 4,000 jobs cut
The new year brings the closing of a well-known women's apparel retailer as The Limited is closing all of its 250 U.S. stores and laying off 4,000 workers.
But it's not out of business as it plans to keep selling merchandise online.
The decision to shutter all its brick-and-mortar locations was "difficult," according to a Fortune report which cited a statement released by Sun Capital, the retailer's private equity owner.
"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," Sun Capital said in a statement.