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Another local store is closing due to bankruptcy. Last week, Ascena Retail Group filed for Chapter 11 and announced Lou & Grey on West Colorado will be shuttered.
The company, which operates Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Justice, Catherines, and Cacique, said it would close approximately 1,100 underperforming stores.
“Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey have incredibly loyal customers who are at the center of everything we do. These iconic brands have significant long-term potential and we continue to deliver on their mission to provide all women and girls with fashion and inspiration to live confidently every day,” Ascena CEO Gary Muto said in a prepared statement about the bankruptcy.
Lou & Grey has been described as a tomboyish fusion of active and street wear.
The bulk of the closures are Catherines stores — which will shut down amid an intellectual property sale to City Chic — and Justice stores.
In bankruptcy court filings, Ascena disclosed that 10 Ann Taylor stores, 28 Ann Taylor Factory stores, nine LOFT stores, 21 LOFT Outlet stores, and eight Lou & Grey stores will close.
“This comprehensive restructuring, as well as the actions we are taking to optimize our brand portfolio and store fleet, mark a new start for our company and will allow us to expand our customer-focused strategies across her mobile, online, and store experiences,” Muto said.
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