(Bloomberg Opinion) — In the latest example of how the world of brick-and-mortar retail is being overwhelmed by the pandemic, specialty apparel conglomerate Ascena Retail Group Inc. – corporate parent of Ann Taylor, Lane Bryant and other chains – filed for Chapter 11 bankruptcy protection. The company said Thursday its restructuring plan will allow it to reduce its debt by $1 billion. It also will close an unspecified number of stores across all of its major banners, including shuttering all of its Catherines plus-size apparel locations.Ascena may not have the cultural primacy of some of the other prominent names in …read more
Source:: Yahoo Finance
