Remaining assets of The Limited have been secured by private equity firm Sycamore Partners for a total of $26.8 million.
While the specialty retailer has already closed all of its stores, assets up for sale consist mainly of its intellectual property. Sycamore acted as the stalking horse bidder for the assets when The Limited in January filed for Chapter 11 bankruptcy, but it’s $25.8 million initial bid was subject to higher and better offers.
The revised bid is still subject to approval by a bankruptcy court judge.
Representatives of The Limited and Sycamore could not be reached or declined to comment.
When the retailer filed for bankruptcy, it wasn’t clear what Sycamore’s plans were for the IP assets, but The Limited held out its web site as “temporarily” shut down, leaving open the possibility that the brand could continue online.
This is a path Sycamore has followed before — in 2014, it acquired Coldwater Creek’s IP assets through bankruptcy after all the stores were shuttered and brought back the nameplate as an e-tailer.