During the 90s, Victoria’s Secret was one of the world’s most successful and recognized underwear companies. But in recent years it has mostly been about scandals and closed stores.
And now the underwear chain seems to be disappearing from Sweden. The company that runs the business in Sweden, Amarla Retail, has gone bankrupt after making massive losses in recent years. It reports the site ehandel.se.
Judging by the company’s results and turnover in recent years, it has been difficult to get business to take off. The worst was in 2019 when the loss landed at almost 163 million and in total in the last five years the loss lands at 310 million.
But now it’s over, but for now the company’s three stores in the Gallerian in Stockholm, Mall of Scandinavia and Malmö are kept open.
“At the moment, the plan is to try to keep the stores open and maintain sales as before, but now under my and the bankruptcy estate’s hat,” says the bankruptcy administrator Lars Lundberg.
It is not yet clear if the stores will be closed or if someone is willing to take over the business.
