The owner of Victoria’s Secret said a private-equity firm’s attempt to back out of an agreement to buy the lingerie chain is a ploy to lower the price of the deal.

L Brands Inc. said Sycamore Partners revealed its motivations earlier this month when it sent L Brands a letter stating it wanted to buy Victoria’s Secret, but at a different price, citing the pandemic’s impact, according to a complaint filed Thursday. Sycamore filed a lawsuit after L Brands declined to renegotiate the purchase price, the complaint said.

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