Frederick's Sexy Lingerie Business for Sale
Long before Victoria's Secret there was Hollywood Boulevard's Frederick's, a postwar emporium of pin-up dreams and boudoir fantasies. Now there are 117 Frederick's of Hollywood stores worldwide.
Unfortunately, this Mecca of unmentionables has hit some hard times, and not the good kind of hard times, either:
The empire that started it all is up for sale, the company announced recently. Darn, said the schoolboy who walks by the big windows of Frederick's on Hollywood Boulevard.
But ... Frederick's also said today (PDF) that it received a lifeline in the form of $24 million in revolving credit via Salus Capital Partners, so who knows.
CEO Thomas Lynch called the credit line ...
... One of many recent milestones that we have achieved under our turnaround strategy.
Turnaround strategy: Get it?! Eh? Meh.
Anyway, it looks like our favorite smut-wear maker has been a victim of its own success. The dirty looks of the evening fashion it pioneered has been mainstreamed via the likes of Victoria's Secret and even American Eagle.
What was was once risque is now everyday, apparently. Which isn't a bad thing, except when you have to keep up and think of new ways to be nasty.
So support this L.A. pioneer in lingerie. Buy Frederick's.