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Ann Taylor, Lane Bryant Owner Files For Bankruptcy

Ascena Retail Group, parent company of Ann Taylor, Lane Bryant, Loft, Justice and Catherines, filed for Chapter 11 protection Thursday in the U.S. Bankruptcy Court in Richmond, Va. The retailer plans to close 1,100 stores. 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.

Read the whole story at The Wall Street Journal »

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