In Brief: The Limited, Inc. restructuring
This article was originally published in The Rose Sheet
Executive Summary
The Limited, Inc. restructuring: Philip Mallott appointed chief financial officer of a planned spin-off company that will include: Bath & Body Works, Penhaligon's, Gryphon, Victoria's Secret Stores, Victoria Secret's Catalogue, and Cacique. Mallot is currently CFO of Structure, a division of The Limited, Inc. The specialty retailer also is considering a second spin-off that would be comprised of Express, Limited, Lerner of New York, and Lane Bryant. The parent company would retain 85-90% ownership of each new company, with the balance owned by public shareholders. Structure, Abercrombie & Fitch Co., The Limited Too, Henri Bendel, and Mast Industries would remain wholly owned subsidiaries. Lazard Freres and Goldman Sachs are advising the company...