Ascena Retail Group, parent company of retail stores Catherines, Lane Bryant and others, has filed for bankruptcy protection and will close hundreds of its stores.
The New Jersey-based company announced its plans to file for Chapter 11 Thursday and close stores in moves that will reduce its debt by $1 billion and give the company more financial flexibility as it struggles through the COVID-19 pandemic, officials said. It also obtained $150 million from existing lenders for restructuring needs.
The company will close all its Catherines stores, which cater to plus-size shoppers, including the Baton Rouge location in Hammond Aire Plaza, the Metairie location at 3908 Veterans Blvd. and the Lafayette store in Acadiana Mall.
Other closures include a significant number of Justice stores and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores, officials said. It will also close all its stores in Canada, Puerto Rico and Mexico.
Justice, which is aimed at tween girls, has stores in Baton Rouge, Metairie, Lafayette, Gonzales, Covington and Hammond. Ann Taylor has a factory store at Tanger Outlet Mall in Gonzales. LOFT has two stores in Baton Rouge and locations in New Orleans, Lafayette, Metairie, Mandeville and Slidell. LOFT Outlet stores are in New Orleans and Gonzales. Lane Bryant has two stores in Baton Rouge and locations in Lafayette, Metairie, Denham Springs, Covington, Gonzales, Harvey and Slidell.