Posted by: Market Watch in Market Information 6 minutes in the past Bankrupt Ann Taylor dad or mum Ascena Retail Group Inc. has entered int
Bankrupt Ann Taylor dad or mum Ascena Retail Group Inc. has entered into an asset buy settlement with Premium Attire LLC, a subsidiary of private-equity agency Sycamore Companions, for $540 million. The deal consists of the Ann Taylor, Loft, Lou & Gray and Lane Bryant manufacturers. Below the phrases of the settlement, Premium Attire will maintain on to a “substantial quantity” of those manufacturers’ shops and associates. As of Aug. 29, Ascena had 1,500 shops, together with places for plus-size retailer Cacique, which isn’t named as a part of the deal. FullBeauty Manufacturers Operations has agreed to amass the mental property and e-commerce property for Catherine’s, one other plus-size retailer. And BlueStar Alliance LLC has created Justice Model Holdings LLC and purchased the mental property for the Justice tween model. Ascena filed for chapter this summer time. This newest settlement is predicted to be accomplished by mid-December. Ascena Retail inventory has misplaced greater than 96% of its worth for the 12 months to this point, and closed Friday at 27 cents. The S&P 500 index is up 12.1% for 2020 up to now. Market Pulse Tales are Fast-fire, brief information bursts on shares and markets as they transfer. Go to MarketWatch.com for extra info on this information.
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