Ascena, owner of Ann Taylor and Lane Bryant, plans to close nearly 1,200 stores as it readies for bankruptcy.Ascena, which owns specialty retail brands Ann Taylor and Lane Bryant, plans to shut at least 1,200 stores as part of bankruptcy proceedings this week, according to a Bloomberg report.
The New Jersey-based company has been battling the consumer shift to online shopping for years. The coronavirus pandemic accelerated its troubles. Ascena Retail, owner of clothing brands such as Ann Taylor and Lane Bryant, plans to shut at least 1,200 stores as it prepares to file for bankruptcy,Ascena may enter bankruptcy proceedings within the week, with a credit arrangement allowing it to shed $700 million from its $1.1 billion debt load, the report said.
Ascena owns around 3,000 stores in the US. Filing for bankruptcy would allow some of its stores to continue operating under new ownership. The New-Jersey based group shut its brick-and-mortar stores in March after the government imposed national lockdown. Although some of its stores reopened in May, the company said its consumer traffic had "significantly reduced" compared to the same period last year.
😢😢😢😢😢
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
Lucky Brand filed for bankruptcy and is closing 13 stores - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Are they going to move to an “online model” now like so many other companies?
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »
JCPenney is closing 2 more stores for good - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If people would stop giving Bezos all of their money and actually shop at stores instead, these historic companies would not be shutting down.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »
Lucky Brand files for bankruptcy, becoming the latest victim of the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If the pandemic continues for a bit longer many of the brands may become bankrupt soon.. Shit jeans anyway Corona didn't do it Government did Is that so hard to understand? Oh wait, you're fake news
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »
Report: Money can buy business, led to Trump's election - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »
Reducing conflict between Arab corner store owners, Black residents - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »