A private equity firm is itching to back out of a deal to acquire Victoria’s Secret, setting up a potential legal showdown over whether buyers can scrap deals because of the coronavirus crisis.

Buyout firm Sycamore Partners, whose other retail properties include Staples, Nine West and Talbots, has filed a lawsuit in Delaware seeking to back out of its agreement to fork over $525 million for a controlling stake in Victoria’s Secret.

The lawsuit accused L Brands of violating their purchase agreement, citing the company’s store closures, its failure to pay rent and the furloughing of a majority of its workforce, The Wall Street Journal reported.

Sycamore — which recently attracted controversy itself when Staples reportedly skipped paying April rent to its landlords despite keeping its stores open — is seeking the court’s blessing to wiggle out of the deal.

L Brands fired back in a statement calling the lawsuit “invalid” and saying it will fight to keep the deal in place.

“L Brands will vigorously defend the lawsuit and pursue all legal remedies to enforce its contractual rights, including the right of specific performance,” the company said. “L Brands intends to continue working towards closing the transactions contemplated by the transaction agreement.”

The deal — hatched weeks before the coronavirus shuttered large segments of the economy, including retail — had been slated to close this quarter and values the lingerie brand at $1 billion.

News of the lawsuit led to the New York Stock Exchange halted trading in shares of L Brands, the retail conglomerate controlled by billionaire Les Wexner which also owns Bath & Body Works. After resuming trading, the stock fell 16 percent to close at $10.19.

Sycamore did not immediately respond to a request for comment.

When the deal was first announced on Feb. 20, L Brands’ stock fell by as much as 10 percent because some Wall Street analysts had reckoned Victoria’s Secret was worth more than Sycamore’s purchase price.

Wexner, who has weathered scrutiny of his past ties to Jeffrey Epstein, had agreed to step down as head of L Brands after the sale.

After acquiring Victoria’s Secret in 1982, the 82-year-old billionaire grew it into a behemoth by emphasizing underwear that caters to male fantasies. But the company has been suffering from sagging sales as its padded pushup bras and bejeweled undies have lost favor to brands that emphasize comfort and more natural body types.