WESTFIELD, NJ — The lingerie retailer did not return requests for comment for this story, but it’s no longer a secret: Victoria’s Secret Westfield location is slated to close.

The principal of 235 Associates LLC, owner of the building at 233 East Broad St., declined to comment this week. However, municipal officials said the lingerie shop at 233 East Broad St. is set to shut its doors by Jan. 31.

The closure comes amid reports the brand’s stock has taken a dive. In August the retailer’s parent company, L Brands, announced that 20 Victoria’s Secret locations would close nationwide, Business Insider reported.

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Westfield Mayor Shelley Brindle cited news reports about the company’s distress during a recent council meeting at which the lingerie retailer’s closure was discussed.

“Their CEO just quit,” Brindle said. “They’re kind of in a bit of a spiraling tailspin. They just haven’t really evolved their brand to keep up with the relevance of the times.”

News of the lingerie store’s closure comes as the eyeglasses retailer Warby Parker opens its Westfield location for the first time Saturday, and not long after reports that the longtime children’s shoe store, Castle Bootery, is closing.