Ascena Retail Group, Inc. (ASNA) News
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Latest ASNA News From Around the Web
Below are the latest news stories about Ascena Retail Group Inc that investors may wish to consider to help them evaluate ASNA as an investment opportunity.
Global Eagle Entertainment And Ascena Retail Group - Don't Get Involved In The Greater Fool Bankruptcy Trade GameOver the past couple of months, the seemingly ever growing momentum crowd has discovered a new playing field: Bankruptcy stocks. With the bad news finally out of the way, momentum traders have started chasing some of these stocks, even if the company has explicitly stated that existing equityholders will be... |
Bankrupt Ascena Has a Good Day in CourtFirst-day motions got approved in bankruptcy court on Friday. |
ascena retail group Receives Court Approval of “First Day” Motions to Support Business OperationsAnn Taylor, LOFT, Lane Bryant, Justice and Lou & Grey Continuing to Serve Customers with Compelling Fashion Assortments and an Exceptional Shopping ExperienceMAHWAH, N.J., July 24, 2020 (GLOBE NEWSWIRE) -- ascena retail group, inc. (Nasdaq: ASNA) and certain of its subsidiaries (collectively, “ascena” or the “Company”) today announced that, on July 23, 2020, it received approvals from the United States Bankruptcy Court for the Eastern District of Virginia (the “Court”) for its “First Day” motions related to the Company’s voluntary Chapter 11 petitions filed on July 23, 2020. Among other approvals, the Court granted ascena approval for the Company to access and use its more than $430 million in cash collateral. In addition, the Court has authorized the Company to meet necessary obligati... |
Ascena Retail Group, Inc. -- Moody's downgrades Ascena's CFR to Ca following Chapter 11 filingMoody's Investors Service (Moody's) downgraded Ascena Retail Group, Inc.'s (Ascena) corporate family rating (CFR) to Ca from Caa3, probability of default rating (PDR) to D-PD from Caa3-PD and term loan rating to Ca from Caa3 following the company's announcement [1] that it has filed for protection under Chapter 11 of the US Bankruptcy Code. "The fallout from the coronavirus pandemic exacerbated Ascena's long-standing brand and execution issues, as well as the ongoing challenges in the apparel retail sector," said Moody's Vice President and senior analyst Raya Sokolyanska. |
Brooks Brothers enters into $305 million 'stalking horse' agreement that will keep 125 stores openBrooks Brothers has entered into a $305 million "stalking horse" agreement with Sparc Group LLC that will keep 125 stores operating. The deal is pending an August 3 court hearing. Brooks Brothers wants to set an August 5 deadline for competing bids, with a hearing to approve a sale on August 11. Brooks Brothers filed for bankruptcy earlier this month. Sparc Group is partially owned by Authentic Brands Group, which owns Barneys New York, Nine West, and a number of other brands and names that generate $12 billion in annual sales. Sparc Group operates 2,600 retail stores and shop-in-shops. WHP Global Inc., an Authentic Brands competitor, is also preparing an offer, according to The Wall Street Journal. And Giglio Group SpA, a Milan-based company, is also interested. Retailers tha... |
Ann Taylor, Loft parent Ascena kicks off store-closing sales in wake of bankruptcy filingAscena Retail Group Inc. , which declared bankruptcy earlier this week, said it has commenced store-closing sales in its stores. The sales are in all of its Catherines stores, a "significant number" of Justice stores and in a "select number" of Ann Taylor, Loft, Lane Bryant and Lou & Grey stores. The company has engaged SB360 Capital Partners as a consultant to conduct the sales. "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." Ascena's stock, which closed Thursday at a 36-year low of 59 cents, has p... |
Store Closing Sales Underway At All Catherines Stores, Significant Number Of Justice Stores, And Select Ann Taylor, LOFT, Lane Bryant, And Lou & Grey Stores, Including All Stores Across Brands In Canada And Puerto RicoAscena 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. |
Ascena Retail joins the retail graveyard with bankruptcy filingAscena Retail (ASNA) files for Chapter 11 bankruptcy as has been expected for a few weeks. The company has struck a restructuring agreement with more than 68% of its secured lenders and will close a significant numbers of Justice stores along with some Ann Taylor and Lane Bryant stores.The company... |
Kirkland, Cooley team up on Ann Taylor parent bankruptcy as Chapter 11s mountKirkland & Ellis, already feasting on fees in several of the largest restructurings of the coronavirus era, has teamed up with Cooley to steer Ann Taylor parent company Ascena Retail Group Inc through its freshly-filed bankruptcy. |
Ann Taylor parent Ascena Retail files for bankruptcyAscena Retail Group , owner of Ann Taylor and Lane Bryant, filed for Chapter 11 bankruptcy protection on Thursday, succumbing to the economic fallout of the COVID-19 pandemic that has already pushed some of the biggest retailers to the brink. |