In May, Ascena Retail Group had reported a sharp decline in earnings as a result of COVID-19.
WESTFIELD, NJ — Ann Taylor’s store on East Broad Street is permanently closed.
A sign seen posted on the door Monday thanked customers for shopping there. A call to the phone number listed for the store did not yield an answer, and the Facebook page for the location said the women’s clothing store is “permanently closed.”
“This location is now closed, but don’t worry you can continue to find great style at anntaylor.com,” the sign on the door said. The website for the chain of stores lists Ann Taylor’s location at The Mall at Short Hills as the nearest store to Westfield.
A phone call and email to the Acena Retail Group Inc., owner of the brand Ann Taylor, were not immediately returned Monday morning.
On July 7, Bloomberg had reported that Ascena Retail Group Inc. was preparing to file for bankruptcy. The report said Ascena Retail Group Inc. was preparing to shutter 1,200 locations nationwide. In addition to owning Ann Taylor, the company owns Lane Bryant.
In a May press release, Ascena Retail Group had reported a sharp decline in earnings as a result of COVID-19.
“Despite aggressive actions to preserve liquidity, the pandemic has significantly reduced our earnings and cash flow, resulting in increased levels of debt and deferred liabilities,” said Carrie Teffner, interim executive chair of Ascena Retail Group Inc.
“With retail stores making up the majority of our revenue and cash flow, the uncertainty created by COVID-19 requires us to evaluate all options available to protect the business.”
Email Matt Kadosh at firstname.lastname@example.org | Twitter: @MattKadosh
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