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Why The Limited Is Closing All of Its Stores

Private-equity backed The Limited is closing all 250 of its stores nationwide.
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Private-equity backed The Limited is closing all 250 of its stores nationwide, resulting in 4,000 job cuts, according to the Associated Press. This comes as bricks-and-mortar retailers in malls struggle to compete with online retailers.

On its website, The Limited is offering 50% off all items.

"We're sad to say that all The Limited stores nationwide have officially closed their doors," the company said in a statement on its website. "But this isn't goodbye. The styles you love are still available online -- We're just a click away 24 hours a day."

Last month, Bloomberg reported that the company is preparing for a bankruptcy filing.