The parent company of Ann Taylor and Lane Bryant is the latest apparel seller unable to ride out economic damage caused by coronavirus lockdowns
Ascena Retail Group Inc., the parent company of Ann Taylor and Lane Bryant, has filed for bankruptcy, the latest apparel seller unable to ride out the economic damage caused by coronavirus restrictions.
U.S. spending on apparel has plunged and remained below prepandemic levels since lockdowns forced thousands of retailers to shut their doors. Since March, a number of major clothing retailers have been pushed into bankruptcy, including Brooks Brothers Group Inc., J.C. Penney Co., Neiman Marcus Group Inc. and J.Crew Group Inc.
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