Morning Update: Sycamore partners Are Attempting To Back Out Of Deal To Buy Victoria's Secret
Sycamore Partners and L. Brands are engaged in a battle over the purchase of Victoria's Secret.
According to Sycamore, L. Brands breached the agreement by not paying their rent in the month of April and closed stores due to Covid-19.
L. Brand's has said they will fight the attempt to back out in court.
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Source:
https://www.cnbc.com/2020/04/22/sycamore-partners-tries-to-get-out-of-deal-to-take-over-victorias-secret.html