Find in the news:
BY COUNTRY

The owner of Ann Taylor, Loft and Justice stores went bankrupt



Ascena will close most of the Justice stores, as well as individual Ann Taylor, Loft, Lane Bryant, and Lou & Grey stores.
Ascena Ann Taylor

American women's clothing retailer Ascena has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Under the terms of the procedure, the company may make a complete reorganization to help resolve the situation and remain on the market. Ascena has become another retailer that has failed to survive the coronavirus pandemic and is trying to reorganize its operations through bankruptcy proceedings. 

Ascena owns many well-known women's clothing stores, including Ann Taylor, Loft, Lou & Grey, Lane Bryant, Cacique, Catherines, and Justice. This latter brand will have the largest number of closed stores. The company also reports that some of its most popular brands Ann Taylor and Loft, will also stop working, as well as some retail outlets such as brands Lane Bryant and Lou & Grey. In total, the retailer operates more than 2800 stores in the U.S. and other countries.

The exact number of stores that will be closed in the near future is not reported, the company only says it will be a "significant" number. The fate of each store will be decided by the outcome of Ascena's negotiations with the landlords. In cases where it is possible to agree on deferral of payments or receipt of payment conditions, the company will try to keep the store running and keep the store running for the foreseeable future. But the stores in Canada, Puerto Rico, and Mexico are planned to close down definitively already in the first stage of restructuring, and this applies to all brands of the company. 

In its bankruptcy petition, Ascena said the company owes between $10 billion and $50 billion and has more than 100,000 creditors, most of whom are shopkeepers. As part of the restructuring, the company plans to reduce its debt by about a billion dollars, and the company also plans to sell the rights to its clothing brand plus-side Catherines in the future. 

More about shopping malls in the USA



DAY BEFORE YESTERDAY, USA:
American classic clothing brand Brooks Brothers with 200 years of history will be sold to a group of investors.
DAY BEFORE YESTERDAY, USA:
As early as August 20, AMC network plans to reopen the doors of more than 100 cinemas for viewers after quarantine.
Aug 12, 2020, United Kingdom:
Superdry's turnover fell by almost 25% and the company's management had to turn to banks for a multi-million dollar loan.
Aug 11, 2020, Japan:
The Japanese division of the company has decided to allow visitors not only to drink a cup of coffee but also to work with comfort.
Aug 11, 2020, USA:
McDonald's Corporation has initiated legal proceedings against the former head of the company, Steve Easterbrook.
Aug 10, 2020, Belgium:
A funny case took place in an IKEA hypermarket in Belgium, where the husband and wife pretended not to know each other.
Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us