DISTRESSED DAILY: U.S. Leases Crush Down-Under Athleisure Brand

For Australian athleisure brand Lorna Jane, the pandemic boom in work-from-home attire wasn’t enough to overcome costly brick-and-mortar leases weighing down its U.S. operations.

The U.S. arm of Lorna Jane, whose namesake founder allegedly coined the term “activewear” decades ago, went bankrupt in California last week. That will let the brand nix each of its 21 store leases and the costs that come with them, allowing Lorna Jane to continue selling high-quality, affordable athletic clothing to American women through its website, Chief Restructuring Officer Richard Munro explained in a court declaration.

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