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Related: About this forumAnn Taylor owner Ascena Retail Group files for Chapter 11 bankruptcy
Source: Associated Press
Ann Taylor owner files for Chapter 11 bankruptcy
By ANNE D'INNOCENZIO
July 23, 2020
NEW YORK (AP) The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic.
Mahwah, New Jersey-based Ascena Retail Group Inc., which operates nearly 3,000 stores mostly at malls, had been dragged down by debt and weak sales for years.
As part of its bankruptcy plan, the company said that it would close all of its Catherines stores, a significant number of Justice stores and a select number of Ann Taylor, Loft, Lane Bryant and Lou & Grey stores.
The company said it has reached an agreement with its creditors to reduce its debt by $1 billion. It received $150 million in new financing to continue operating during its reorganization.
-snip-
By ANNE D'INNOCENZIO
July 23, 2020
NEW YORK (AP) The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic.
Mahwah, New Jersey-based Ascena Retail Group Inc., which operates nearly 3,000 stores mostly at malls, had been dragged down by debt and weak sales for years.
As part of its bankruptcy plan, the company said that it would close all of its Catherines stores, a significant number of Justice stores and a select number of Ann Taylor, Loft, Lane Bryant and Lou & Grey stores.
The company said it has reached an agreement with its creditors to reduce its debt by $1 billion. It received $150 million in new financing to continue operating during its reorganization.
-snip-
Read more: https://apnews.com/773b01b61bef0fb3957dc11100bac445
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Ann Taylor owner Ascena Retail Group files for Chapter 11 bankruptcy (Original Post)
Eugene
Jul 2020
OP
LakeArenal
(28,729 posts)1. Nobody has money for $1000 dresses.
Wellstone ruled
(34,661 posts)2. Watching the likes of
General Growth Properties and how look before they hit the BK Courts.
gay texan
(2,405 posts)3. They own Lane Bryant?
A lot of my trans sisters love their stuff. It's hard to find stuff that fits us. I hope they dont run them into the ground....