US womenswear retailer The Limited is understood to have notified the 248 staff employed at its New Albany head office they could lose their jobs amid a potential closure of the facility. 

Just weeks after hiring a financial advisor, the company filed a notice with the Ohio Department of Job and Family Services revealing the details of the potential jobs cuts and office closure. This was followed by an internet letter to employees this week explaining that if a buyer isn't found, the head office would close due to missed sales targets and "significant debt obligations", according to reports.

The letter also highlighted "very disappointing" third-quarter results but no figures were provided.

The layoffs are understood to be designed to enable the company to focus on the operation of its 243 US stores and e-commerce site, while remaining financially flexible to continue ongoing discussions about the company's future, Retail Touchpoints reports.

The Limited's parent company, private equity firm Sun Capital Partners, has been looking at options for the brand including either a sale or restructuring. CEO Diane Ellis left last month to take over as president of apparel retailer Chico's.