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Ann Taylor Parent Goes Bankrupt, Plans to Shut Over 1,000 Stores

August 5th, 2020 | Leave a comment.

Ascena Retail Group Inc., owner of the Ann Taylor and Lane Bryant clothing chains, will close more than half its stores and hand control to its lenders after the Covid-19 pandemic tipped the debt-laden retailer into bankruptcy. The Chapter 11 action allows Ascena to avoid a permanent shutdown, cut its borrowings and close weak stores […]

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