The Limited Stores file for bankruptcy

The Limited, which has already shuttered its once ubiquitous stores, took another major step Tuesday toward fading from the retail landscape by filing for bankruptcy protection.

Citing its declining financial performance, the Ohio-based women's clothing company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.

Before taking this latest step, the company had already closed the roughly 250 stores that it operated in 42 states, and also shut down its website.

For decades, The Limited was a fixture in malls across the country, and a reliable stop for women seeking to fill out their work wardrobes for a middle-of the road price. Its demise reflects a broader struggle by traditional retailers who are struggling to compete against e-commerce powerhouse Amazon and other online retail channels.

Walmart layoffs just the latest cuts in retail industry

Macy’s announced earlier this month that it would shut 68 stores, and a day later, Sears, said that it would be shuttering 150 stores and selling its signature Craftsman tool brand. Walmart is also cutting hundreds of positions,  though it announced Tuesday that it would be adding 10,000 jobs.