More than 800 jobs at risk as Victoria's Secret UK goes into administration

More than 800 jobs are at risk as the UK arm of a women’s fashion brand falls into administration.

Victoria’s Secret, which has UK headquarters in London, announced this afternoon that it has gone into administration.

The chain has 25 locations in the country, but administrator Deloitte has said that there will be no immediate redundancies, as it hopes to find a buyer for the chain.

The company has been reducing its operations recently, seeing operating losses of £170m in 2019 and having cancelled its annual Victoria’s Secret Fashion Show in the same year.

It came under fire in 2018 after then-chief officer Ed Razek was quoted as saying he would never hire a transgender model for the show, as well as saying that the public had “no interest” in plus-size models.

Rob Harding, joint administrator at Deloitte, commented: “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.”

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