Ann Taylor, Lane Bryant owner files for Chapter 11 bankruptcy
NEW YORK (AP) – The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy on Thursday, the latest retailer to do so during the pandemic.
Mahwah, New Jersey-based Ascena Retail Group Inc., which operates nearly 3,000 stores mostly at malls, has been dragged down by debt and weak sales for years.
Ascena joins a growing list of retailers that have filed for bankruptcy in recent weeks, including Brooks Brothers, Neiman Marcus, J.C. Penney, and J. Crew.
These retailers were already struggling with weak sales but the forced closures of stores in March to reduce the spread of the Coronavirus put them further in peril.
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