CLEVELAND, Ohio — The women’s clothing retailer Limited Stores LLC is closing the last of its 130 brick-and-mortar stores, including six stores in Northeast Ohio, on Sunday.
Stores at Beachwood Place mall, Belden Village mall in Canton, Crocker Park in Westlake, Great Lakes Mall in Mentor, Southpark Mall in Strongsville and Summit mall in Akron had marked down what little clothing, shoes and accessories they had left by 80 percent or more this week, and were selling off tables, fixtures, and mannequins ($ 25 to $ 125 each).
The clothing retailer, based in New Albany, Ohio, said it will sell off the rest of its inventory via TheLimited.com, where everything is discounted at 50 percent or more, although all sales are final.
The company did not respond to requests about how many employees it had or what would happen to the company after Sunday.
Founded in 1963, The Limited went public six years later and grew rapidly, opening its 100th store in 1976. It had 772 stores by 1990, but that number had dwindled to about 250 by the end of 2016.
On Nov. 28, the company filed a WARN notice with the Ohio Department of Job and Family Services that it was considering permanently cutting all 248 jobs at its headquarters, and that layoffs would begin as early as Dec. 2. The letter did not mention its retail stores or its employees there.
In a notice to employees at the time, The Limited said: “As you know, the company’s Q3 results were very disappointing and we substantially missed our sales budget. As a result of this, Limited Stores, LLC (the ‘Company’) has determined that significant layoffs will happen in the future at our home office here at 7775 Walton Parkway, New Albany, Ohio 43054. It is even possible that we could close our home office altogether.”
Citing “significant debt obligations” and missed sales projections, the company said it had been “earnestly pursuing additional sources of liquidity and exploring a potential sale of the Company” in the hopes of keeping it open.
On Dec. 16, the company announced that interim CEO John Buell had left for a job at Altar’d State, a boutique retailer based in Knoxville, Tennessee.
When no buyer was found, stores started slashing prices on merchandise immediately after Christmas, and employees were told they were losing their jobs.
“While the Company would have preferred to give earlier notice, the events precipitating this announcement have occurred so recently and suddenly that providing earlier notice was not feasible and would have undermined the Company’s efforts described above,” the Limited told employees.
“We are extremely grateful for the service you have given to the Company and deeply regret that current economic conditions require this action to be taken.”
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