50 Brands on the Brink of Declaring Bankruptcy

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Ascena Retail may not sound familiar, but the brand owns Lane Bryant, Lou & Grey, Ann Taylor, and Catherines. Lately, the company has considered selling two of its chains, Lane Bryant and Catherines, in an attempt to stave off bankruptcy. For the first three quarters of last year, Ascena retail had losses totaling about $300 million while also owing creditors about $1.35 billion. Unless it gets some serious cash flow, it could be going under. 

Ascena Retail

As part of its bankruptcy filing, Ascena Retail announced plans to close a significant number of its stores, including all of its Catherines stores and a significant number of its Justice stores. The company also worked to restructure its operations and reduce its debt in order to improve its financial position.

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