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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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Retail Sales drop 16.4% in April

May 22nd, 2020 | Leave a comment.

Amazon.com delivered the punch to many retailers. The coronavirus will knock many more of them off. Even as malls and stores begin to reopen, the Covid-19 pandemic has taken a toll on an industry already battered by the shift to online shopping. More than two million retail jobs disappeared in April as many stores closed. […]

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