More Capital Region Women’s Retail Stores May Close
The coronavirus pandemic continues to affect retail stores across the country. This time Ascena, who owns retail stores in malls, may be forced to close many of their clothing stores that contain mostly women's fashions. According to News 10 ABC, Ascenta, who operates Ann Taylor, Lane Bryant, Loft, Justice, Catherines, and Lou Grey retail stores has filed Chapter 11 bankruptcy protection.
The Ascenta Retail Group filed for bankruptcy and that means that nearly three thousand of its retails stores which a mostly located inside malls may be closing their doors. They are blaming the loss in sales in recent years and with the coronavirus pandemic, it has added to the losses.
It looks as if the company will be forced to close all of its Catherines stores, a large number of Justice stores, and a few Loft, Ann Taylor, Lou & Grey, and Lane Bryant stores.
There is a Catherines store located in Stuyvesant Plaza. There are four Ann Taylor/Loft retail stores in the Capital Region. Justice may close all of their stores and there are four in the Capital Region. There are four Lane Bryant stores throughout the Capital Region and they are also at risk of closing.
The Ascenta Group which owns and operates Lane Bryant, Loft, Ann Taylor, Lou & Grey, Catherines, and Justice stores becomes part of a long list of major retailers who can't keep their doors open. With more people shopping online along with the coronavirus pandemic, many of these stores located in shopping malls are being forced to file bankruptcy and close their doors. Only time will tell if the retailers in our area will be closing too.