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Victoria's Secret Is Closing Down Hundreds Of Stores In Canada & The US Forever

You might have to find a new favourite bra store.

As retail spots start reopening all over the country, some will stay closed for good. So, you might have to find somewhere else to buy your bras. Victoria's Secret is closing stores in Canada and the U.S. this year. 

L Brands, the parent company of Victoria's Secret, Pink and Bath & Body Works, released commentary along with its first-quarter reports on May 20.

In that, it was announced that about 250 of the bra and lingerie brand's stores in Canada and the U.S. will be closed for good in 2020.

All of these developments come after stores here at home had to shut their doors back in March because of the COVID-19 pandemic.

Total company sales dropped by 37% which was driven by the lack of in-store shopping.

Exactly which locations will be shut down for good with these closures and when that will happen hasn't been made known yet.

At the beginning of the year, there were 1,091 Victoria's Secret and Pink stores in Canada and the U.S.

The majority of those are located south of the border. 

According to Retail Insider, a deal to sell a majority stake in Victoria's Secret to a private-equity firm fell through.

The brand's moves during the pandemic, which included closing stores, cutting back on new inventory and not paying rent in April, were cited as reasons for the deal not happening.

There was hope that the sale would bring the brand back after years of decline.

At the beginning of the year, Victoria's Secret was quietly closing down some stores.

About 55 locations in North America were shut down, which included a couple in Canada.

Big businesses aren't the only ones feeling the effects of COVID-19.

Restaurants, cafes and other businesses in places like Toronto and Ottawa have closed for good because of the pandemic.