The Victoria’s Secret Contract That Anticipated a Pandemic


A buyout firm is trying to back out of its deal for Victoria’s Secret, citing the coronavirus. Victoria's Secret - Official Site www.victoriassecret.com4.0 rating for victoriassecret.com Bras, Panties, Lingerie, Sleepwear, Sport & Beauty. Confidence Is Sexy. Makes The Perfect Gift · Discover Our Collections · Stay In, Stay Cozy 9802A Metro Parkway E, Phoenix, AZ (602) 944-0826 Directions Customer Support Center See All Frequently Asked Questions Or Live Chat W/ Customer Care Team. The contract’s wording will make that tricky.

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It’s no wonder the buyout firm Sycamore Partners is trying to back out of its $525 million deal to buy a majority of Victoria’s Secret from struggling L Brands.

Until now, the private equity firm has generated impressive returns for its investors and huge paydays for its executives even as its core retail businesses have been in precipitous decline. The Victoria’s Secret Contract That Anticipated a Pandemic ... Victoria’s Secret Contract That Anticipated a Pandemic A buyout firm is trying to back out of its deal for Victoria’s Secret, citing the coronavirus. The contract’s wording will make that... Sycamore owned a portfolio of brands that were once ubiquitous at America’s malls: Nine West, Anne Klein, Hot Topic, Jones New York. It bought the office supplies retailer Staples for $6.8 billion in 2017. Even as those brands faded, Sycamore sold assets, slashed personnel and costs and paid itself huge dividends. Victoria's Secret www.victoriassecret.comShop our 5/.50 collection to find your sexiest look. Only at Victoria's Secret. One of the funds it manages generated annualized returns of 43 percent.


Publisher: www.nytimes.com
Date: 2020-04-29T09:00:14.000Z
Reference: Visit Source (Read Article)

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As COVID Imperils Deals, M&A Contracts May Include More Backstops

Sycamore Partners’ lawsuit this week seeking to terminate its agreement to buy a majority of Victoria’s Secret holds lessons for future dealmaking in the coronavirus era.’

For one, future deals will likely include language to keep agreements from falling apart even in a pandemic, attorneys said.’

‘Every time something goes to litigation, you’re thinking, next time I’m drafting, I have to make sure of X,’ said Staci Jennifer Riordan, who leads the fashion practice at Nixon Peabody LLP, and is the vice-chair of the firm’s litigation department. Tyra Banks opens up about turning down Victoria's Secret ... Banks opens up about turning down Victoria's Secret contract: 'I can't believe I did that' Read full article. 105. Megan Sims. February 26, 2020, 4:18 PM UTC. Riordan isn’t involved in the Victoria’s Secret deal, and spoke generally.’

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Publisher: WWD
Date: 2020-04-23T20:39:25+00:00
Author: Sindhu Sundar
Twitter: @wwd
Reference: Visit Source (Read Article)

Victoria’s Secret’s woes are a microcosm for shopping malls, Jim Cramer says

The coronavirus pandemic is making an already rocky situation for shopping centers even rockier, CNBC’s Jim Cramer said Wednesday.

As department stores such as’Macy’s, Kohl’s‘and others face’mounting challenges, the pandemic is shining a light on the dire situation facing shopping mall storefronts, the “Mad Money” host said.

The comments came after Victoria’s Secret, the women’s lingerie brand in the middle of a private acquisition, received unsettling news. Sycamore Partners, which agreed in February to acquire the apparel maker from L Brands, filed suit earlier that day seeking to abandon the deal. Sycamore was slated to receive majority control of Victoria’s Secret for $525 million.

Publisher: CNBC
Date: 2020-04-22T23:20:30+0000
Author: Author link
Twitter: @CNBC
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Breakingviews – Corona Capital: Extended Stay, Victoria’s Secret

LONDON/HONG KONG/NEW YORK/DALLAS (Reuters Breakingviews) – Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.

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HAPPY PLACES. Blackstone is checking back into one of its old favorites. Here is What Goes into a Victoria’s Secret “Angel” Contract they have an “Angel” contract. While Victoria’s Secret does not comment extensively about such contracts, here is what we know … First, there are a number of contract provisions, including one that outlines the model’s time commitment to the brand. According to former-Angel, Miranda Kerr, “It’s three months at bare minimum.” Along with Starwood Capital, the private-equity firm has taken a stake in Extended Stay America, the Wall Street Journal reported on Tuesday. The firm run by Stephen Schwarzman has patronized the hotel chain a couple of times before: It took the company private in 2004, unloading it three years later to another leveraged-buyout shop. Then it scooped Extended Stay out of bankruptcy in 2010, tripling its money via a public offering in 2013, according to Bloomberg.


Publisher: U.S.
Date: 2020-04-22T20:51:27+0000
Author: Breakingviews columnists
Twitter: @Reuters
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