The UK arm of lingerie retailer Victoria’s Secret has officially gone into administration today.
The retailer has 25 stores across the country and announced its collapse this afternoon, June 5.
Among its 25 stores is the one in Liverpool ONE, on the lower level of South John Street.
The firm has today confirmed that it has hired administrators from Deloitte, reports Birmingham Live.
The move to enter administration comes after being impacted by the coronavirus lockdown.
The insolvency firm said it will conduct a "light touch" administration at the retailer - which has 785 employees on furlough - as it seeks to find a potential buyer.
Rob Harding, joint administrator at Deloitte, said: "This is yet another blow to the UK high street and a further example of the impact the Covid-19 pandemic is having on the entire retail industry.
"The effect of the lockdowns, combined with broader challenges facing bricks and mortar retailers, has resulted in a funding requirement for this business, resulting in today's administration.
"We will now work with the existing management team and broader stakeholders to assess all options available for the future of the business.
"As administrators we'd like to thank them and all of the employees for their support, at what we appreciate is a difficult time."
