Ann Taylor Parent Ascena Gets Go Ahead for Bankruptcy Sale

Dec. 8, 2020, 7:58 PM

Ascena Retail Group received court approval Tuesday of the sale of its Lane Bryant and Ann Taylor brands to Sycamore Partners.

  • U.S. Bankruptcy Judge Kevin Huennekens grants company permission during a court hearing held by telephone and video on Tuesday
  • Huennekens also approved motion for expedited hearing and shortened notice for the sale and other matters
  • Sale includes Premium business segment, which is comprised of Ann Taylor, Loft, and Lou & Grey: filing
    • Co. last month agreed to sell those brands and Lane Bryant brand to Sycamore Partners for $540 million
  • NOTE: Ascena filed for bankruptcy in July in...

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