Ascena Retail Group engaged SB360 Capital Partners as its consultant to conduct store closing sales at most of its retail locations, including at all Catherines stores, a significant number of Justice stores and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes all stores across brands in Canada and Puerto Rico.
As previously reported, Ascena Retail Group entered into a restructuring support agreement with more than 68% of its secured term lenders and received commitments for $150 million in a new money term loan from its existing lenders.
“Because of the compelling discounts and the highly desirable merchandise, we expect this will be a short sale across all stores,” Aaron Miller, executive vice president of SB360, said. “Customers are encouraged to shop early while quantities last as many of their favorite styles may go quickly.”
“The company’s store associates at these Ann Taylor, LOFT, Lane Bryant, Justice, Lou & Grey and Catherines stores are dedicated to providing customers with the best shopping experience possible while offering great value on a large selection of merchandise,” Stephen Miller, co-president of SB360, said.
Safe shopping practices have been implemented across all stores and will continue to be modified and updated based on local conditions and directives. A full list of stores can be found here.