Ann Taylor, Dress Barn, Loft, Lane Bryant and more announce store closures

Ascena Retail Group, which owns Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Maurices and Catherines stores, plans to close between 250 and 650 locations over the next two years.

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Chief executive David Jaffe said 250 locations will definitely close down, and another 400 will close their doors unless the company can negotiate lower rents at those locations.

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Jaffe said that the move is necessary to help the company traverse the deeply troubled retail market.

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Many stores are struggling to compete against digital retailers like Amazon.

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