⁍ Ascena Retail Group, owner of Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique, and Justice, has filed for Chapter 11 bankruptcy.

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⁍ It plans to close an undisclosed number of stores, including ‘a significant number’ of Justice stores and all of its Catherines stores.

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⁍ The New Jersey-based company currently operates about 2,800 stores in the US, Canada, and Puerto Rico.

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– Ascena Retail Group, owner of Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique, and Justice, has filed for Chapter 11 bankruptcy protection. Per the Wall Street Journal, the company plans to close an undisclosed number of stores, including “a significant number” of Justice stores and all of Catherines stores. It also plans to close some Ann Taylor, Loft, Lou & Grey, and Lane Bryant stores and will exit Puerto Rico, Canada, and Mexico. Ascena Retail Group currently operates about 2,800 stores in the US, Canada, and Puerto Rico. It has about $1.3 billion in debt. “The meaningful progress we have made driving sustainable growth, improving our operating margins, and strengthening our financial foundation has been severely disrupted by the COVID-19 pandemic,” Carrie Teffner, interim executive chair of Ascena, said in a press release Thursday. “As a result, we took a strategic step forward today to protect the future of the business for all of our stakeholders.”