Ascena Retail Group will close 1,100 stores within its portfolio as part of its bankruptcy, including five in Montgomery County, writes Tristan Navera for the Philadelphia Business Journal.
The parent company of Justice, Catherines, Lane Bryant, Loft, Ann Taylor, and Lou & Gray filed for Chapter 11 bankruptcy protection last week. Currently, it has around 2,800 stores and 43,000 employees included in its footprint.
Ascena said it is planning to close all Catherines stores and sell the brand’s intellectual property in a court-supervised auction. The tween brand Justice will also see most of its locations close as its parent company converts it into a mostly online retailer.
In Montgomery County, the company is planning to close the Catherines store in Philadelphia Premium Outlets in Limerick Township, as well as the Justice stores in Willow Grove Park, King of Prussia Plaza, Montgomery Mall in North Wales, along with its Philadelphia Premium Outlets.
The company is closing a total of 26 retail stores in the Philadelphia area. Each location will take between 30 and 60 days to wind down its operations.
Read more about the closings at the Philadelphia Business Journal by clicking here.
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