The women's fashion retailer notified employees at its headquarters last week that it is running out of capital and that its business will likely be shut down unless a buyer can be found. The news emerged after the company filed a notice with the state of Ohio that it is planning a mass layoff and possible shutdown of its headquarters at 7775 Walton Parkway in New Albany, Ohio. Although the details have not yet been finalized, absent intervening circumstances in the form of a buyer or recapitalization, the mass layoff is expected to be เสื้อทีม permanent, the company said in the filing, adding it is possible that the entire New Albany facility may be closed and that all 248 employees will be let go. Limited Stores signed a seven-year lease for 54,106 square feet in 2009 at the then newly built, four-story, 106,500-square-foot property in New Albany. Limited Stores is a specialty retailer offering upscale branded womens casual and working apparel in over 235 stores throughout the U.S. It is owned by private equity firm Sun Capital Partners. The Limited's third quarter results substantially missed their sales budget, the company told employees at the headquarters last week. As you know, product misses and massive shifts in retail shopping trends have been especially difficult for the company's business, and the company is dealing with significant debt obligations, Larry Fultz, COO of the Limited wrote to employees. We have now determined that the combination of sales misses and the level of existing financial obligations will require เสื้อทีม สีขาว that the company be sold or we will have to wind down our operations due to an anticipated lack of operating capital. Over the past several weeks, the company has been earnestly pursuing additional sources of liquidity and exploring a potential sale of the company, employees were told. We เสื้อทีม are now in the process of considering bids from potential buyers of the company's business and are hopeful that any such buyer would continue company operations, Fultz wrote.
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