Parent of Ann Taylor and Lane Bryant files for bankruptcy

Ascena Retail Group, the parent company of women’s apparel brands that include Ann Taylor and Lane Bryant, filed for Chapter 11 bankruptcy protection Thursday while announcing a debt restructuring agreement with 68% of its lenders. Ascena also announced it will close a “significant number” of Justice stores and a select number of Ann Taylor, Loft, Lane Bryant and Lou & Grey stores, including all stores across brands in Canada, Puerto Rico and Mexico, and all Catherines stores. The final…