Plans For Lane Bryant in 2022 Following Parent Company Bankruptcy | Joel Eisenberg | NewsBreak Original (2024)

Following the Chapter 11 bankruptcy of Lane Bryant’s parent company, Ascena, in 2020, and subsequent closures of 157 locations, have the retailer’s financial metrics improved in the current calendar year?

Author’s Note

This article represents the latest in a series that attempts to elucidate the truth behind internet rumors of business location closures, and is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: TheHill.com, Wikipedia.org, ScrapeHero.com, Stores.LaneBryant.com, BizJournals.com, TheRealDeal.com, and Ascena.com.

Introduction

Wikipedia features a comprehensive overview of the Lane Bryant chain: Lane Bryant Inc. is an American women's apparel and intimates specialty retailer focusing on plus-size clothing. The company began in 1904 with maternity designs created by Lena Himmelstein Bryant Malsin. Lane Bryant, Inc., is the largest plus-size retailer in the United States. As of 2022, the chain consists of 448 stores in 46 U.S. states (only Alaska, Hawaii, Montana and Wyoming do not have Lane Bryant stores). Lane Bryant, Inc. is not affiliated with Lane Bryant catalog (Brylane, Inc.), which was spun off as a separate business in 1993.

ScrapeHero.com further breaks down the current Lane Bryant location count (which numbers one less than the Wikipedia mention): There are 447 Lane Bryant locations in the United States as of June 24, 2022. The state with the most number of Lane Bryant locations in the US is Texas, with 52 locations, which is 11% of all Lane Bryant locations in America.

For a list of specific store locations, the company’s website lists them here.

At first glance, Lane Bryant presently appears to have stabilized its business. According to BizJournals.com, in its piece titled “Sycamore Partners Vows to 'Unlock Potential' of Lane Bryant After Closing Acquisition,” December of 2020 saw bankrupt parent company Ascena Retail Group portending a new start: Ascena Retail Group has completed the sale of several of its brands, including Columbus-based Lane Bryant, to a new owner. New York City-based Sycamore Partners LLC bought Lane Bryant and its sister brands Loft, Ann Taylor and Lou & Grey, from the bankrupt New Jersey company for $540 million. The deal closed Dec. 23, according to company filings with the Securities and Exchange Commission.

However, per a targeted Google search, whey then do rumors of the company shuttering appear regularly on social media accounts and restaurant-related sites? Perhaps because, it should be noted, the now private Ascena entity still operates Lane Bryant, while Sycamore Partners owns the post-bankrupt Ascena — the latter which had shuttered several of its other companies during its restructuring.

Let us review further.

Lane Bryant, 2022

For the sake of perspective, I will include a link here to an archived 2020 article from TheHill.com. In their piece, titled “Owner of Ann Taylor, Lane Bryant Files For Bankruptcy and Will Close Some Stores,” the following explanation is stated for the parent company’s decision: Ascena said it filed for Chapter 11 bankruptcy, citing the COVID-19 pandemic and subsequent shutdowns as having “severely disrupted” its financial foundation. The company said it will close a “select number” of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores, including all stores across brands in Canada, Puerto Rico and Mexico. The company said it will also be shutting all Catherine Stores and a “significant number” of Justice stores.

As some of the other stores formerly under Ascena’s purview have proven to not have the staying power of Lane Bryant, word spread that the women’s oversized clothing company may be on the verge of permanently shuttering.

The article also quoted from an official Ascena statement on the matter: “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. As a result, we took a strategic step forward today to protect the future of the business for all of our stakeholders,” said Carrie Teffner, interim executive chair of Ascena, in a statement.

You can see here for TheRealDeal.com piece on specific Ascena restructuring details.

Conclusion

Though there has been no official word on either closing or expansion plans upcoming for Lane Bryant, any further updates will be reported here, on NewsBreak.

For a last bit of context, much of which appears to remain in play, e-Commerce is expected to be a major driver moving forward. During the time of the Ascena bankruptcy, they announced the following upcoming strategies on its website:

• We will continue to operate our Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey brands through a reduced number of retail stores and online.
• The final number of store closings will be determined based on the ability of ascena and our landlords to reach agreement on sustainable lease structures. We believe the Plan is in the landlord’s long term interest and we are hopeful and optimistic that our landlords will partner with us to keep as many stores open as possible.
• We expect to move through this process on an expedited timeframe and stay focused on generating profitable growth and driving value for customers and stakeholders.
• We believe these actions will allow us to stabilize our financial position in the wake of the COVID-19 pandemic and move forward as a strong, profitable business.

Thank you for reading.