(Filed Under retail Lingerie News). After hiring a third-party accounting firm to restructure the company, lingerie chain La Senza announced it would be closing 81 of its 158 U.K. stores.
The closures, including large locations in Belfast, Edinburgh, Newcastle and London, are attributed to the current economic slump as well as poor trading conditions. Global firm KPMG is handling the restructuring for brand owner Lion Capital. Closures will not occur in Canada, where the company was founded in 1990 and acquired by U.S.-based Victoria’s Secret parent Limited Brands, Inc. in 2007.
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