The Limited shuts down its website and files for bankruptcy
January 18, 2017 01:43 PM
Apparel retailer Limited Stores LLC has shut down its flagship website and filed for Chapter 11 bankruptcy protection.
Visitors to TheLimited.com are greeted with a message saying “We’ll be back soon! TheLimited.com is down temporarily. Check back soon. We’ll be back up and running as soon as possible.” A spokesman for The Limited, No. 216 in the Internet Retailer 2016 Top 500 Guide, did not immediately return an email seeking comment.
The privately held retailer on Tuesday filed for Chapter 11 bankruptcy protection in Delaware, citing assets of more than $10 million and up to $50 million, with debts of more than $100 million and up to $500 million. Its largest creditor is Hong Kong-based consumer goods exporter LF Centennial Pte. Ltd., to which The Limited owes $32.2 million, according to court documents.
The website shutdown and the bankruptcy come nearly two weeks after The Limited announced it would close its retail locations, effective Jan. 8, but would continue selling online.
Traffic to TheLimited.com dropped by 24.4% from November to December from 2,050,000 visitors to 1,550,000, according to data from web traffic measurement firm SimilarWeb. 94.36% of its visitors come from the United States. Top500Guide.com data shows The Limited generated $130 million in web sales in 2015, up 18.2% from $110 million the previous year.