Parent company of Ann Taylor, Lane Bryant files bankruptcy
More retail stores are expected to close with the Chapter 11 bankruptcy protection filing by Ascena Retail Group, owner of Ann Taylor and Lane Bryant.
The company also owns apparel brands LOFT, Justice and Lou & Gray. Ascena said it plans to close several stores and exit its plus-size apparel brand, Catherines.
Ascena has about 2,800 stores in the U.S., Canada and Puerto Rico.
Since March, Neiman Marcus, J. Crew, Brooks Brothers and J.C. Penney have filed for bankruptcy. Earlier this month, RTW Retailwinds Inc., the parent company of New York & Co., also filed for bankruptcy and said it expects to close a significant portion, if not all, of its brick and mortar stores.