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Anne Taylor Parent Company To Close 1,200 Stores

Video Credit: Wochit News - Duration: 00:32s - Published
Anne Taylor Parent Company To Close 1,200 Stores

Anne Taylor Parent Company To Close 1,200 Stores

Ascena owns specialty retail brands Ann Taylor and Lane Bryant.

The company plans to shut at least 1,200 stores as part of bankruptcy proceedings this week, according to a Bloomberg report.

Under its Chapter 11 arrangement, Ascena would do away with around $700 million from its $1.1 billon debt load.

Business Insider reports that Ascena's lenders will assume ownership of the company.

The New Jersey-based company has been battling the consumer shift to online shopping for years.


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Ann Taylor Parent Company Files For Bankruptcy [Video]

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Ascena Retail Group has filed for Chapter 11 bankruptcy. The company is planning to close some stores. Its portfolio brands include Ann Taylor, LOFT, and Lane Bryant. Coronavirus-related store closures..

Credit: Wochit News     Duration: 00:27Published