The Limited to close remaining retail stores by Sunday

NEW ALBANY, Ohio, Jan. 7 (UPI) -- Women's clothing retailer Limited Stores LLC has announced it will be closing the remainder of its approximately 200 brick-and-mortar stores by Sunday.

A post on The Limited's website informed shoppers that the retail stores will be closing but the company's online shop will remain open.

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

The company will sell the remainder of its merchandise at a 50 percent discount through the online store, but will no longer accept returns, The Plain Dealer reported.

The company filed a notice with the Ohio Department of Job and Family Services on Nov. 28 indicating it was considering layoffs permanently cutting all 248 jobs at its headquarters beginning Dec. 2.

Interim CEO John Buell left the company for a job at Altar'd State on Dec. 16. After failing to find a buyer the company began drastically lowering prices and informing employees they would lose their jobs.

"While the company would have preferred to give earlier notice, the events precipitating this announcement have occurred so recently and suddenly that providing earlier notice was not feasible and would have undermined the company's efforts described above," The Limited said. "We are extremely grateful for the service you have given to the company and deeply regret that current economic conditions require this action to be taken."

Liz Dunn, with the consulting firm Talmage Advisors, told the Washington Post that The Limited failed to keep up with trends and meet the needs of modern retail shoppers.

She said shoppers are "looking for really fast fashion, for things that are hyper-relevant to what's going on in fashion right now — and as inexpensive as possible."