Monday, December 23, 2024
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Ascena Retail Group

Newspeopleretailers

Express Appoints New Senior Vice President and CFO

by Katie Lee

Columbus, Ohio — Fashion apparel retailer Express, Inc. has appointed Jason Judd as the company’s senior vice president and chief financial officer, effective April 4th. He joins Express from Big Lots and will report to CEO Tim Baxter. “I am pleased to welcome Jason to Express, Inc.,” says Baxter. “He is a seasoned, well rounded and accomplished financial executive with a proven track record of delivering results. His experience across industries and companies, combined with his passion for retail makes him a terrific complement to our extraordinary leadership team, and …

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Newsretailers

Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540 Million

by Katie Lee

New York City and Mahwah, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah, N.J.-based Ascena Retail Group for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of …

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Bed Bath & Beyond Hires Industry Expert to Lead Store Optimization & Real Estate Strategy

by Katie Lee

Union, N.J. — Bed Bath & Beyond Inc. has appointed Wade E. Haddad as senior vice president (SVP), real estate and construction, effective September 2. He joins with over 25 years of real estate experience and will lead the company’s recently announced store optimization strategy, a key part of its previously disclosed comprehensive restructuring plan. In this new role Haddad will be a central part of the team overseeing the comprehensive modernization of the company’s operations, unlocking value from the property portfolio while establishing the optimal network to support new omnichannel …

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Ascena Retail Group Files for Bankruptcy, Plans to Close ‘Significant’ Number of Stores

by Katie Lee

Mahwah, N.J. — Ascena Retail Group, the parent company of clothing brands Ann Taylor, Justice, Loft, Lane Bryant, Catherines and Lou & Grey, has filed for voluntary Chapter 11 bankruptcy in the United States Bankruptcy Court for the Eastern District of Virginia. The Mahwah, N.J.-based company has reopened 95% of its stores since the COVID-19 outbreak, though Ascena cited the pandemic as “severely” disrupting the company’s financial foundation. The exact number of store closings was not disclosed, but the company said it will close a “significant” number of Justice stores, …

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Women’s Apparel Chain Dressbarn to Close All 650 Stores

by Katie Lee

Mahwah, N.J. — Dressbarn, a women’s apparel retailer, plans to eventually close all 650 of its stores nationwide. The New Jersey-based company is winding down its retail operations and plans to assist its 6,800 associates with transition support as individual stores close. “For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers,” says Steven Taylor, Dressbarn’s chief financial officer. “This decision was difficult, but necessary, as the Dressbarn chain has not been …

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