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Ann Taylor's Owner Files for Bankruptcy

TheMotleyFool

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Ann Taylor's Owner Files for BankruptcyPhoto, wide shot, wide-angle lens, Home appliance manufacturer, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/fb3845ac-e3c6-43ef-86c1-b57ed8c272c4.png

Ascena Retail Group (NASDAQ: ASNA), owner of the Ann Taylor and Lane Bryant clothing brands, is filing for Chapter 11 bankruptcy protection amid pandemic-related sales decreases in its 2,800 women's clothing stores.

Ascena has been struggling for several years as customers have shifted to online shopping and the company is saddled with expensive real estate.

Image source: Getty Images.

Source Fool.com

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