The parent company of Ann Taylor, Loft and Justice announced it would close all of its stores in Canada.
In the U.S., where Ascena has most of its stores, a “significant” number will close, but the company will try to continue operating an undisclosed number of locations.Ascena is able to keep some locations in the U.S.
open because it has reached an agreement with creditors that will reduce its debt by $1 billion and the company has received $150 million in new financing.Coronavirus: Canada to extend emergency wage subsidy program into December
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