The company, which operates Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Justice, Catherines, and Cacique, said it would close approximately 1,100 underperforming stores.
The bulk of the closures are Catherines stores — which will shut down amid an intellectual property sale to City Chic — and Justice stores. In bankruptcy court filings, Ascena disclosed that 10 Ann Taylor stores, 28 Ann Taylor Factory stores, nine LOFT stores, 21 LOFT Outlet stores, and eight Lou & Grey stores will close.
"Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey have incredibly loyal customers who are at the center of everything we do. These iconic brands have significant long-term potential and we continue to deliver on their mission to provide all women and girls with fashion and inspiration to live confidently every day," Ascena CEO Gary Muto said in a press release about the bankruptcy.
"This comprehensive restructuring, as well as the actions we are taking to optimize our brand portfolio and store fleet, mark a new start for our company and will allow us to expand our customer-focused strategies across her mobile, online, and store experiences." 968 Chapel St., New Haven, ConnecticutPenn Square Mall, 1901 Northwest Expressway, Room 1036, Oklahoma City, OklahomaThe Gardens Mall, 3101 PGA Blvd.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »