Restructuring Support Agreement Supported by Over 68% of Secured Term Lenders; Files Voluntary Chapter 11 Petitions to Implement Financial Restructuring Plan
COVID-19 Pandemic Disrupted Meaningful Progress Underway to Optimize Balance Sheet and Accelerated Need for Proactive, Strategic Step Forward to Protect the Business for All Stakeholders
Talented Leadership Team Established Over the Past Year Remains Focused on
Driving Sustainable Growth and Profitability
Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey Continuing to Serve Customers; Company to Close All Catherines Stores and Enters Into Asset Purchase Agreement to Sell Catherines Intellectual Property Assets
Secure…
Read the full article at: https://www.globenewswire.com/news-release/2020/07/23/2066420/0/en/ascena-retail-group-Reaches-Comprehensive-Restructuring-Agreement-to-Strengthen-Financial-Position.html