Josephine Skriver attends the debut of Victoria's Secret's new fall assortment at Natick Mall on August 17, 2019 in Natick, Massachusetts.Taylor Hi
Josephine Skriver attends the debut of Victoria’s Secret’s new fall assortment at Natick Mall on August 17, 2019 in Natick, Massachusetts.
Taylor Hill | Getty Photos
Talks to promote L Brands‘ Victoria’s Secret model to personal fairness agency Sycamore Companions will spill into subsequent week, because the advanced deal construction creates complications for its advisors, individuals conversant in the scenario mentioned.
L Manufacturers had hoped to finish a deal by the tip of this week, individuals conversant in the scenario beforehand mentioned. The corporate is now aiming to announce a deal as quickly as Tuesday, individuals conversant in the matter mentioned. They spoke on phrases of anonymity as a result of the deal talks are confidential.
Sycamore is concurrently exploring an acquisition of L Manufacturers’ Victoria’s Secret model and, individually, a personal funding in public fairness, or PIPE, into L Manufacturers, to handle the dad or mum firm’s debt load, the individuals acquainted mentioned. The 2 are targeted totally on the sale of Victoria’s Secret, which they hope to get finished with or with no PIPE.
The delay highlights the stress L Manufacturers is beneath because it grapples with a heavy debt load and the sluggish Victoria’s Secret model. These enterprise challenges have been exacerbated amid scrutiny of L Manufacturers Chairman and CEO Les Wexner and his ties to the late intercourse prison Jeffrey Epstein.
Wexner is in talks to step down as CEO as…