Ascena Retail Group has completed the sale of its premium brands, including Ann Taylor, Loft, Lou & Grey, and Lane Bryant, to Premium Apparel LLC, an affiliate of Sycamore Partners.
The sale, first announced in November and priced at $540 million, comes as the Mahwah, New Jersey-based Ascena works to exit bankruptcy. The company filed for Chapter 11 in July, as a consequence of the economic impact of the Covid-19 pandemic.
As part of the deal, Premium Apparel said it has "committed to retaining a substantial portion of the retail stores, associates, and corporate operations affiliated with these brands."
“We are pleased to have completed this transaction, which secures a path for the long-term success of Ann Taylor, Loft, Lou & Grey, and Lane Bryant,” said Gary Muto, chief executive officer of Ascena. “We have worked diligently to maximize the value of our brands, and we are confident they will thrive under Sycamore’s ownership.”
“I would like to thank our associates, who have remained focused on meeting our customers’ needs throughout our financial restructuring process. While we have certainly faced obstacles in the challenging retail landscape brought on by the global pandemic, our associates have consistently demonstrated leadership, professionalism and dedication to our customers and to each other. Ann Taylor, Loft, Lou & Grey and Lane Bryant will continue to serve customers through the holiday season and beyond.”
Outside of its premium brands, Ascena sold its Catherines brand to FullBeauty Brands for just shy of $41 million in September, and sold all intellectual property and certain other brand assets of its tween brand, Justice, to an entity formed by Bluestar Alliance LLC for a total of approximately $90 million in November.
FAQs
ascena is a national specialty retailer offering apparel, shoes and accessories for women. Through our collective brands—including Ann Taylor, LOFT, Lane Bryant and Cacique—we serve women across generations, identities, affiliations and body types.
Who bought out Ascena Retail Group? ›
Ascena is now a privately held company owned by Sycamore Partners and no longer a publicly traded company and has emerged out of bankruptcy. On January 4, 2021, Gary Muto stepped down as CEO of Ascena and in place Lizanne Kindler was named as the Executive Chair and Interim Chief Executive Officer of Ascena.
Does Ascena still exist? ›
Ascena restructuring approved post-bankruptcy
Ascena originally filed for bankruptcy last July. In December, private equity firm Sycamore Partners agreed to acquire the company — and bring it out of bankruptcy — for $540 million. The deal is valued at $1 billion overall.
Who owns Lane Bryant now? ›
Is the loft part of premium brands? ›
Premium Apparel, an affiliate of Sycamore Partners, has bought Ann Taylor, LOFT, Lou & Grey, and Lane Bryant brands from Ascena retail group and certain of its subsidiaries.
What companies are under X5 retail group? ›
X5 operates its stores under Pyaterochka, Perekrestok, Karusel, and Chizhik banners. The company offers various products including food and beverages, fruit and vegetables, dairy products, meats, cottage cheese, groceries, fish and non-food products.
Is Ascena Retail going out of business? ›
Summary: Ascena Retail Group, which owns Ann Taylor and Lane Bryant, will close more than half of its stores — 1,600 out of 2,800 locations — according to its Chapter 11 bankruptcy filing.
Does Ascena own talbots? ›
Talbots' parent company Sycamore Partners recently purchased the Ascena Retail Group Inc., which owns Ann Taylor, Loft, Lane Bryant and Lou & Grey, for $540 million.
Does Ascena own Dress Barn? ›
Dressbarn is an online retailer owned by Retail Ecommerce Ventures. Its predecessor is the former chain of women's clothing stores owned by Ascena, which operated as Dressbarn from 1962 until 2019. Since 2020, it is owned by Miami, Florida–based Retail Ecommerce Ventures.
What is the dress code for ascena? ›
Ascena Retail Group has a professional dress code. Employees must dress in appropriate business attire, including dress slacks, khakis, collared shirts, blouses, skirts, and dresses. Shoes must be clean and appropriate for the workplace.
The bankrupt retailer has entered into an agreement to sell its remaining brands — Ann Taylor, Loft, Lou & Grey and Lane Bryant — to Premium Apparel LLC, an affiliate of Sycamore Partners, whose holdings include Belk, Talbots, The Limited, Hot Topic and Torrid.
How many ascena stores are there? ›
Ascena Retail Group's number of stores worldwide from 2016 to 2019. This graph shows the total number of stores of the Ascena Retail Group worldwide from 2016 to 2019. In 2019, the Ascena Retail Group operated 3,445 stores around the world.
Who bought out Talbots? ›
Talbots became a public company in 1993 and was traded on the New York Stock Exchange under the symbol TLB. The New York City-based private equity firm Sycamore Partners acquired Talbots in August 2012 for $391 million (including debt).
Did Sycamore buy Talbots? ›
(an affiliate of Sycamore Partners) has completed its acquisition of The Talbots, Inc., following the previously announced completion of its tender offer on August 3, 2012. The transaction is valued at approximately $391 million, including net debt.
Who owns Dress Barn? ›
Who are Ascena Retail Group competitors? ›
Ascena Retail Group competitors include Pacsun, Stitch Fix, EXPRESS, DSW and Roman.
Does ascena own talbots? ›
Talbots' parent company Sycamore Partners recently purchased the Ascena Retail Group Inc., which owns Ann Taylor, Loft, Lane Bryant and Lou & Grey, for $540 million.
Which companies are in the Home Retail Group? ›
Home Retail Group is the UK's leading home and general merchandise retailer with pro forma annual sales of over £5.8 billion. It sells products under two distinctive and complementary retail brands, Argos and Homebase, which are both household names in the UK.
