Future of Victoria's Secret in Milton Keynes uncertain as UK arm of chain enters administration

    The future of the Victoria's Secret store in Milton Keynes is uncertain after the UK arm of the chain entered administration today.

    The companies UK arm, which has 25 stores across the country, also employs over 800 people nationally.

    Deloitte have been called in for what is being termed as a "light touch" administration.

    785 workers for the chain are currently on the government furlough scheme.

    Rob Harding, joint administrator at Deloitte, said: “This is yet another blow to the UK high street and a further example of the impact the Covid-19 pandemic is having on the entire retail industry."

    "The effect of the lockdowns, combined with broader challenges facing bricks and mortar retailers, has resulted in a funding requirement for this business, resulting in today’s administration."

    “We will now work with the existing management team and broader stakeholders to assess all options available for the future of the business."

    "As administrators we’d like to thank them and all of the employees for their support, at what we appreciate is a difficult time.”

    Victoria's Secret is located at intu Milton Keynes.

    The online operation of the chain is not affected by the administration.

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