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LB - L Brands: Selling Victoria's Secret At An Absolute Rock-Bottom Price
L Brands Inc.
A much anticipated deal for L Brands' (LB) troubled Victoria's Secret business has finally taken place, although at terms (mostly pricing of course) which is a bit of a disappointment to investors. The "bit" part of the previous sentence is a massive understatement as the deal might be helpful to reduce debt (and mostly lease liabilities) as Victoria's Secret is on the verge of losing money. It marks a truly devastating outcome compared to realistic values which could be attached to the business just a few years ago.