BOSTON, July 24, 2020 /PRNewswire/ -- Ascena Retail
Group, Inc. (Nasdaq: ASNA) ("ascena" or the "Company"), a leading
national specialty retailer for women's and girls' apparel, and
SB360 Capital Partners, one of North
America's leading asset disposition specialists, today
announced the commencement of store closing sales in 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. The Company has engaged SB360
Capital Partners as its consultant to conduct the sales at most of
the locations.
Experience the interactive Multichannel News Release here:
https://www.multivu.com/players/English/8750451-ascena-sb360-capital-partners-store-closing-sales/
ascena is a leading national specialty retailer offering
apparel, shoes, and accessories for women under the Premium Fashion
segment (Ann Taylor, LOFT, and Lou
& Grey), Plus Fashion segment (Lane
Bryant, Catherines, and Cacique), and for tween girls under
the Kids Fashion segment (Justice). The Company will continue
to provide customers with compelling fashion assortments and an
exceptional shopping experience in all of its open stores and
online platforms.
Throughout all closing stores, customers can take advantage of
storewide discounts off the original price on a full selection of
merchandise in a wide range of styles and sizes.
"Because of the compelling discounts and the highly desirable
merchandise, we expect this will be a short sale across all
stores," said Aaron Miller,
Executive Vice President of SB360. "Customers are encouraged to
shop early while quantities last as many of their favorite styles
may go quickly."
Stephen Miller, Co-President of
SB360, said, "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."
The Company continues to prioritize the safety of its
associates, customers, and community by closely monitoring all
state and local guidelines. Safe shopping practices have been
implemented across all stores and will continue to be modified and
updated based on local conditions and directives.
About SB360 Capital Partners LLC – SB360
Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps
businesses manage change, restructure assets, and turn around
dwindling profitability. SB360 makes equity investments to infuse
capital for growth opportunities, fund turnarounds, and provide
liquidity to businesses experiencing change. SB360 acquires assets
of all types including inventory, fixed assets, intellectual
property, real estate, and complete business units. The firm's
asset disposition services range from providing guaranteed asset
value recovery to acting as a liquidation consultant. Additionally,
SB360 has entities engaged in real estate advisory, commercial real
estate investment and the operation of the SBC Logistics Asset
Recovery Center in Columbus. A
lending affiliate, Second Avenue Capital Partners, provides
asset-based loans for middle-market companies. The principals of
SB360 hold extensive commercial interests in national retail and
wholesale operations; internationally recognized consumer brands;
commercial, residential, and industrial real estate properties; and
financial service operations.
About Ascena Retail Group, Inc.
– Ascena Retail Group, Inc. (Nasdaq: ASNA) is a
national specialty retailer offering apparel, shoes, and
accessories for women under the Premium Fashion segment
(Ann Taylor, LOFT, and Lou &
Grey), Plus Fashion segment (Lane
Bryant, Catherines and Cacique) and for tween girls under
the Kids Fashion segment (Justice). Ascena Retail Group, Inc.
through its retail brands operates e-commerce websites and
approximately 2,800 stores throughout the
United States, Canada, and
Puerto Rico.
VIEW THE ASCENA STORE CLOSING LIST:
https://www.sb360.com/select-projects/events/ascena/
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SOURCE SB360 Capital Partners LLC