L Brands temporarily closes stores, draws down $950 million from existing credit line

L Brands Inc said on Tuesday it would temporarily close all its stores, includin...

FILE PHOTO: A customer passes by an L Brands Inc., Victoria's Secret retail store in Manhattan, New York, U.S., May 13, 2016. REUTERS/Brendan McDermid

- L Brands Inc said on Tuesday it would temporarily close all its stores, including those of Bath & Body Works and Victoria’s Secret, in the United States and Canada through March 29 and that it has drawn down $950 million from an existing credit line due to the coronavirus outbreak.L Brands said it had $2 billion in cash following the drawdown, which the company called a “proactive measure.

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