×
64 008
Fashion Jobs
TJ MAXX
70118-lp Detective
Permanent · Philadelphia
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · League City
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Leominster
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Dartmouth
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Miramar
OLD NAVY
Loss Prevention Agent - Westroads
Permanent · Omaha
NIKE
Athlete Services Operations Manager, Footwear
Permanent · Beaverton
JORDAN
Marketplace Business Operations & Strategic Planning Director, Global Jordan
Permanent · Beaverton
NIKE
Global App & Membership Planning Operations Manager- Nike Direct Digital Commerce
Permanent · Beaverton
NIKE
Finance Manager, Consumer Marketplace (Multiple Openings)
Permanent · Portland
NIKE
Finance Manager- Got And Icc (Multiple Opportunities Available)
Permanent · Portland
CONVERSE
Distribution Center Area Manager-Ontario
Permanent · Ontario
ULTA BEAUTY, INC.
General Manager
Permanent · San Antonio
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Austin
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Boca Raton
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · San Antonio
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Lincoln
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Durham
ULTA BEAUTY, INC.
co - Sales Manager
Permanent · Denton
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Charleston
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Blue Ash
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Laurel
Published
Oct 14, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ascena to sell Justice brand

Published
Oct 14, 2020

Ascena Retail Group announced on Tuesday that it has entered into an asset purchase agreement to sell the intellectual property, e-commerce business and other assets of its Justice brand.

Ascena retail group to sell Justice brand. - Facebook: Justice


Ascena intends to conduct a court-supervised auction process, which among other conditions, will include a decision about the remaining Justice retail locations.

The move is part of the New Jersey-based groups efforts to emerge from Chapter 11 bankruptcy.

“A sale of the Justice intellectual property, e-commerce business and other assets brings us closer to the completion of our restructuring process. All of our restructuring activities are focused on maximizing value for all of our stakeholders and positioning the ascena brands for long-term success,” explained CEO, Gary Muto, in a news statement. 

“With a reduced store footprint and a more focused collection of go-forward brands, we believe that ascena will emerge from Chapter 11 better able to strategically invest in our future and generate sustainable, profitable growth. Justice remains a brand beloved by tween girls, and we look forward to a competitive auction process.”

The owner of Ann Taylor and Lane Bryant, filed for Chapter 11 bankruptcy protection back in July, after succumbing to the economic fallout of the Covid-19 pandemic. 

Tween retailer Justice permanently closed over 600 stores this summer. The Justice brand, formerly Limited Too, joined Ascena in 2009. Before the store closures, it operated 826 specialty retail and outlet stores.

Most recently, Ascena also announced that it will exit its plus-size apparel brand, Catherines. The intellectual property assets of its Catherines brand is being acquired by FullBeauty Brands Operations, LLC, as part of the bankruptcy process.

Likewise, in February, the company completed the wind-down of Dressbarn, having already sold its Maurices brand to an affiliate of OpCapita LLP for $300 million in May 2019.

Ascena managed to accumulate debt over the years due to an aggressive acquisitions strategy.

Copyright © 2021 FashionNetwork.com All rights reserved.