New York City — As expected, Sycamore Partners has acquired The Limited's brand and other related intellectual property assets for more than $26 million. The Limited had filed for bankruptcy in January and had begun closing all 250 stores. Sycamore plans to reintroduce the brand to the marketplace at a later date.
The intellectual property was purchased through a competitive auction run by The Limited as part of its ongoing Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware.
Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $3.5 billion in capital under management. The firm's investment portfolio currently includes Belk, Coldwater Creek, Dollar Express, EMP Merchandising, Hot Topic, MGF Sourcing, Nine West Holdings, Talbots and Torrid.
SOURCE: Sycamore Partners