The closing sales are expected to last 30 to 60 days from "the filing date depending on the store location," Ascena said in its frequently asked questions.Īscena Retail Group Inc. SB360 Capital Partners will manage Catherines' going-out-of-business liquidation sales as well as the closing sales at its sister brands, court records show. SB360 managed Charlotte Russe's 2019 liquidation and is currently handling Modell's Sporting Goods' closing sales. Thursday's list included more than 1,100 closures, but the company said it plans to close 1,600 of its stores.Īccording to frequently asked questions posted on Ascena's restructuring website, the final number of store closings "will be determined based on the ability of Ascena and our landlords to reach agreement on sustainable lease structures." Justice store closings: 600-plus locations to shutter as part of Ascena Retail Group bankruptcy. Is your Lane Bryant closing? Here are the 150-plus locations, including outlet stores, slated to liquidate Eight of the smaller Lou & Grey brand also will shutter. New Jersey-based Ascena, which operates the Justice tween brand and plus-size retailers Lane Bryant, Cacique and Catherines, said in court records Thursday that, altogether, the retailers would "reduce their store fleet from approximately 2,800 stores to approximately 1,200 stores."īut the majority of the stores that will initially close are Justice and Catherines locations.Īccording to the bankruptcy filing, 30 of Loft's 666 stores and outlets will close along with 38 of Ann Taylor's 291 locations.
A slew of celebrity partnerships and collaborations further set it on the map.While Ascena Retail Group said it plans to close more than half of its stores as part of its bankruptcy, Ann Taylor and Loft stores aren't facing the same number of closings as their sister brands. In the early 2000s, Ann Taylor continued to act as a major player in the New York fashion scene, attracting celebrities and notable figures like Anna Wintour and Annie Leibovitz to its fashion shows and parties.
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As it evolved over the years, the company expanded to include spinoff brands like Ann Taylor Loft - later renamed just LOFT - to diversify its customer base and appeal to younger professional women seeking to upgrade their wardrobes.
However, for decades, Ann Taylor made a name for itself by helping American women get dressed for work, with its classic tailored styles and a wide range of crisp button-downs and sharp suits.įounded in 1954, Ann Taylor became the go-to destination for professional women and set several styles on the map, including trousers and pants for women in the 1960s and 1970s and the ubiquitous 1980s power suit. Ascena Retail Group - the parent company of Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique, and Justice - filed for Chapter 11 bankruptcy protection on Thursday, with plans to shutter an 1,100 stores across its brands.įor Ann Taylor and its sister brand LOFT, the filing marks the culmination of several years of slumping sales and dwindling foot traffic, challenges worsened by the coronavirus outbreak.
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