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"It needs to be brought up to date to reflect the values of gender equality, sustainability, and diversity that appeal to today's shoppers and compete with the brands that have overtaken it. Deloitte described the administration as "light touch", meaning the management are allowed to keep running the business.The show launched in 1995 and was once a major pop culture event, drawing millions of viewers each year to watch its so-called "angels".However, Victoria's Secret has arguably been eclipsed in recent years by brands such as Savage X Fenty, the lingerie line by singer, actress and businesswoman Rihanna, whose events showcase a range of body types.Rob Harding of Deloitte said it was "yet another blow to the UK High Street" amid the Covid-19 pandemic.Mr Harding added that this was a "further example of the impact the Covid-19 pandemic is having on the entire retail industry. List of Victoria's Secret in UK. Contacts and Phone Numbers to stores. The administrators said they aim to get the firm out of administration.It appears that Victoria’s Secret had been struggling financially before the pandemic. Opening/closing times of Victoria's Secret UK. "In 2018 it saw its lowest ratings ever, drawing criticism that it was sexist, outdated and lacked diversity.Qing Wang, professor of marketing at Warwick Business School, said: "If the UK arm of Victoria's Secret is to be saved, it needs a new start and a major overhaul of its brand and marketing strategy.The chain, famous for its fashion shows, has 25 shops in the UK, all of which have been shut since the virus lockdown started in March.The firm had already furloughed 785 workers in the UK before appointing administrators.The brand's parent company L Brands said it was important to "evolve" its marketing strategy at the time.Some important changes are coming from 1st AugustAdministrator Deloitte said there would be no immediate redundancies as it tries to find a buyer for the chain.These are external links and will open in a new windowBut the chain had already been hit by changing consumer tastes and weakened spending. Get your favorite bras for a low price when you shop clearance bras at Victoria's Secret.

You can also choose to be emailed when someone replies to your comment.Sharing the full story, not just the headlinesRetailer hires administrators after being hit by the coronavirus lockdownAre you sure you want to submit this vote?Rob Harding, joint administrator at Deloitte, said: “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.Create a commenting name to join the debateThe existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Victoria's Secret in UK on map with directions and GPS. The most insightful comments on all subjects will be published daily in dedicated articles. Start your Independent Premium subscription today.“As administrators we’d like to thank them and all of the employees for their support, at what we appreciate is a difficult time.”The insolvency firm said it will conduct a “light touch” administration at the retailer, which currently has 785 employees on furlough, while it tries to find a potential buyer.Are you sure you want to delete this comment?Enter your email to follow new comments on this article.Are you sure you want to mark this comment as inappropriate?Mr Harding added: “We will now work with the existing management team and broader stakeholders to assess all options available for the future of the business.Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. The UK arm of Victoria's Secret has fallen into administration, putting more than 800 jobs at risk. He later left the company.The administration process also excludes its online business, which will continue trading.Several other High Street brands have been struggling in recent weeks due to lockdown measures introduced in March to stop the spread of the virus.It will now attempt to find another buyer for its assets, or re-negotiate rents on its High Street stores in a bid to improve the firm's financial situation. He suggested "transsexual" people should not be a part of the fashion show. Victoria's Secret in UK (in database): 30 stores Shop now and save on bras, panties, lingerie, sleepwear, sportswear and more at Victoria's Secret! Want to discuss real-world problems, be involved in the most engaging discussions and hear from the journalists?