Next fends off M&S to close in on Victoria’s Secret deal

Next is thought to be close to snapping up Victoria's Secret's UK business

Fashion giant Next has agreed an outline deal to snap up the Victoria’s Secret business in the UK.

Next is thought to have beaten Marks & Spencer in the race to become the lingerie specialist’s preferred UK franchise partner, Sky News reported.

The deal, if concluded, follows the collapse of Victoria’s Secret’s British division last month, when Deloitte was called in as administrator

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