Sycamore Partners tries to back out of $1.1bn Victoria’s Secret deal over coronavirus response – report

Sycamore Partners is reportedly looking to back out of a $1.1bn buyout of troubled lingerie chain Victoria’s Secret after the latter furloughed staff and cut senior staff pay in response to the coronavirus crisis. The private equity house has launched a lawsuit against Victoria’s Secret owner L Brands, telling the company it had breached the …