Ascena Retail Group, Inc., the parent of the Ann Taylor, Lane Bryant, Lou & Grey and LOFT retail chains, filed for Chapter 11 bankruptcy on Thursday, July 23, 2020 in the Eastern District of Virginia, docket # 20-33113. According to MarketWatch, the New Jersey-based company expects to reduce debt to become profitable. Ann Taylor, Loft, Lane Bryant and other chains will continue to operate through the restructuring with about 95% of stores open, while the company reduces its footprint.
This filing is the fourth on our Top 20 Watch List issued just a few weeks ago, joining Chuck E. Cheese’s, GNC, and Brooks Brothers.
If you have an Ann Taylor, Lane Bryant, Lou & Grey, and LOFT lease in your portfolio or if you are a trade creditor owed money, Stark & Stark’s Shopping Center Group can help. Our bankruptcy attorneys regularly represent landlords throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues. Our Group has been counsel to landlords and trade creditors in the GNC, Stage Stores, Modell’s, Pier 1, Art Van’s Furniture, Fairway Market, Mattress Firm, Toys “R” Us, Payless, A&P, rue21, Central Grocers and Sports Authority chapter 11 bankruptcy cases. For more information on how Stark & Stark can assist you, please contact shareholders Thomas Onder or Joseph Lemkin.