The Limited heads towards bankruptcy in 2017

The Limited is the first fashion company of 2017 to file for bankruptcy. Unfortunately, the women’s retailer filed on Monday for Chapter 11 bankruptcy.

The company also shuttered its 250 stores earlier this month. On January 6, The Limited had released a statement confirming that it was closing down all of its stores. Now, officializing its bankruptcy, the company has entered in an asset purchase agreement with private equity firm Sycamore Partners. The firm is attempting to help find a buyer for The Limited priced at 25.8 million dollars.

As The Limited just filed, a buyer has not yet been confirmed for the company’s intellectual assets. The company’s assets are estimated between 10 and 50 million dollars, with liabilities estimated at 100 to 500 million dollars according to the petition. Sycamore Partners will continue business with The Limited to help find a suitable business for acquisition.