The Limited bids farewell “it’s been an honor to provide fashion for you”

The bankrupted fashion retailer announced it has filed for bankruptcy protection earlier this month. Soon after it submitted its Chapter 11 bankruptcy protection’s request, The Limited kicks off its closure plan with the shutdown of its website.

“Please know that it has been such an honor to provide fashion for you and other strong, confident women for more than 50 years,” The Limited wrote on its website.

Earlier this week, The Limited announced on its homepage that the company will be shutting down its online retail operations for the time being. The move comes after the women’s apparel retailer filed for Chapter 11 bankruptcy protection last week after shuttering its 250 brick-and-mortar stores nationwide.

The Limited had been in operation since 1963 but had suffered from slumping foot traffic and expensive leases. An affiliate of the private equity firm Sycamore Partners reportedly bid $26 million for intellectual property owned by The Limited, extending to trademarks and social media. An asset auction is likely to be scheduled sometime within the next month.

Howard Davidowitz, chairman of retail consulting firm Davidow Lopez & Associates, was quoted by ‘Internet Retailer’ as saying: “The whole segment is in the tank. Malls are terrible. We’re over-malled and add to that the explosive growth in online. When you put all that together, there’s only one thing you’re going to see — a tremendous amount of bankruptcies and closed stores.”

Brands that had been part of or launched by The Limited included Limited Express, Lane Bryant and Abercrombie & Fitch.