L Brands (NYSE: LB) , the parent company of both the highly successful Bath & Body Works brand and the faltering, scandal-ridden Victoria's Secret, announced multiple upcoming changes today, including a relatively firm timetable for spinning off Victoria's Secret.
L Brands says the divestiture could involve either "a spin-off of the Victoria's Secret business into a public company or a private sale of the business." L Brands nearly sold off the ailing brand in early 2020, but the COVID-19 pandemic wrecked the deal.
Image source: Getty Images.
For further details see:
L Brands to Split Off Victoria's Secret in August