When the pandemic eventually recedes and you feel comfortable shopping in malls again, theres a good chance the retail landscape will look very different. For instance, there will be far fewer Ann Taylor, Lane Bryant, and Loft stores to shop from. Ascena Retail Group, the umbrella company that owns these brands along with Catherines, Justice, and Lou & Grey, has just filed for bankruptcy.
These brands, which were once popular among women looking for affordable workwear for the office, survived the retail apocalypse in the wake of the Great Recession, only to be hit hard when the coronavirus pandemic landed. Ascena had a large fleet of brick-and-mortar stores across all of these brands, and these physical locations were forced to clos…
Read the full article at: https://www.fastcompany.com/90531633/heres-why-the-owner-of-ann-taylor-loft-and-lane-bryant-is-bankrupt