1600 Stores Including LOFT, Justice, Catherine’s, Lane Bryant, & Ann Taylor Closing
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The Ascena Retail Group is the latest of many retail giants to wave the white flag of bankruptcy in the wake of the Coronavirus pandemic. Ascena is the parent company to several prominent stores including LOFT, Ann Taylor, Justice, Lane Bryant, Catherine’s and more.
The New Jersey-based group is planning to permanently shutter 1600 of their stores throughout the various brands, with Justice being hit the hardest. They are planning to close over 600 of the tween store locations. Lane Bryant is also heavily impacted with 150+ stores on the list to liquidate, which includes their outlet stores. While less in numbers, Catherine will be closing all of its locations.
While not bearing the brunt of the bankruptcy, LOFT will still sustain some damage as it intends to close 30 of its 666 stores and outlets. In addition, we can expect to see 38 of Ann Taylor’s 291 brick and mortar stores liquidated and shut down.
This bankruptcy will not affect any merchandise credits, gift cards, or credit card and loyalty programs for the brands, but you might want to spend any gift cards or credits for Catherine’s soon!
Huge discounts are being offered online!
As a result of these impending store shutdowns, several Ascena brands are now offering huge discounts for online shoppers:
- Ann Taylor – offering an extra 60 – 70% off everything plus free shipping with code ULTIMATE
- LOFT – offering 60% off everything plus free shipping with code CYBER
- Lane Bryant – offering Buy One, Get TWO Free on Clearance
- Catherines – offering 40-60% off select apparel and accessories
- Justice – offering an extra 50% off all clearance