Ascena Retail Group get liquidity up to 300M$
Good news for Ascena Retail Group, which is among twelve endangered US retailers, is selling (press release) a majority stake in its fashion discounter Maurices Inc to an affiliate of OpCapita LLP. The deal, which is valued at $300 million, should strengthen Ascena’s balance sheet and liquidity. Shareholders like the idea, sending the stock up more than 15 percent upon the news.
About Ascena Retail Group :
ascena retail group, inc. is the largest specialty retailer for women and girls in the United States. Through our collective of eight brands—including Ann Taylor, LOFT, Lou & Grey, maurices, dressbarn, Lane Bryant, Catherines, and Justice—we serve women and girls across generations, identities, affiliations and body types.
