Victoria’s Secret to be spun off a year after sale collapse

The entrance to a Victoria’s Secret store in Pittsburgh (Keith Srakocic/AP)

A year after an agreement to sell Victoria’s Secret fell apart as the pandemic emptied shopping centres across the US, the chain will be spun off by its owner to become a separate company.

L Brands, based in Columbus, Ohio, has been shopping the struggling chain elsewhere since the collapse of that deal and said it had held talks with a number of potential buyers, but it appears it could not come to an agreement on price.