Victoria's Secret's UK business falls into adminstration, putting 800 jobs at risk

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The UK arm of Victoria's Secret went into administration on Friday, filing for protection from its creditors, in a move that could end up in this portion of the business being sold.

Victoria's Secret CEO said that the news would not have an impact on any of its other stores around the world and that its UK online store would operate as normal.

While the lingerie retailer has been hard hit by the pandemic, its struggles predate this period.

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The UK arm of Victoria's Secret went into administration on Friday, putting more than 800 jobs at risk.

This effectively means that it has filed for protection from its creditors. See the rest of the story at Business InsiderNOW WATCH: Why thoroughbred horse semen is the world's most expensive liquidSee Also:Shocking video shows crowded Las Vegas casino on first day of reopeningGap sued by its landlord for allegedly not paying nearly 66 million in rent during the pandemicLas Vegas casinos are about to reopen, and photos show that plexiglass shields, hand-washing stations, and out-of-service slot machines will be the new normalSEE ALSO: The rise and fall of Victoria's Secret, America's biggest lingerie retailer