The Limited Inc. Is Split In Two

The Limited Inc. board has approved the retailer’s restructuring plan to create two new public companies from its existing operations.

The plan, first announced March 28, calls for Limited’s lingerie and personal care businesses to be placed into one company and its women’s apparel business into the other.

The plan also includes a special distribution of cash to shareholders.

One company will contain the Victoria’s Secret stores and catalog, Bath & Body Works, Cacique, Penhaligon’s and Gryphon. The second will contain the Express, Limited, Lerner New York, Lane Bryant and Henri Bendel units.