Limited headed for Chapter 11

Valley View Mall Roanoke
Some mall-based apparel stores have struggled as consumers shift their spending.

Limited Stores is planning to file for bankruptcy at the beginning of the year. The struggling apparel retailer has hired Kirkland & Ellis as a legal adviser and Guggenheim Securities and RAS Management Advisors to help with debt restructuring and any asset sale, according to sources close to the matter. Limited Stores spun off from L Brands Inc. in 2007 and the chain, like other mall-based apparel stores, has struggled as consumers shift the way they spend. (Bloomberg)