Are there ann taylor stores in canada

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Can I still redeem gift cards? We will continue accepting gift cards pursuant to the applicable terms and conditions in store and online at anntaylor. Your credit card should work as it normally does. Toll-free: International: Email: ascenainfo primeclerk. Ann Taylor Frequently asked questions. What did ascena announce? This sale process will be conducted pursuant to Section of the Bankruptcy Code.

The final number of store closings will be determined based on the ability of ascena and our landlords to reach agreement on sustainable lease structures. We expect to move through this process on an expedited timeframe and stay focused on generating profitable growth and driving value for customers and stakeholders. We believe these actions will allow us to stabilize our financial position in the wake of the COVID pandemic and move forward as a strong, profitable business.

Why did ascena make the decision to file for Chapter 11 now? How does this benefit the Company and its brands? For the last two years, we have been working to find ways to address our debt and optimize our balance sheet. While we were making meaningful progress driving sustainable growth, improving our operating margins and strengthening our financial foundation, the COVID pandemic disrupted our financial foundation and business across all of our brands.

This uncertainty accelerated our need to take a proactive, strategic step forward to protect the business and all of our stakeholders. The RSA we entered into with our lenders formalizes their overwhelming support for a comprehensive plan to deleverage our balance sheet, right-size our operations and inject new capital into the business. This comprehensive restructuring, as well as the actions we are taking to optimize our brand portfolio and store fleet, mark a new start for our company and will allow us to expand our customer-focused strategies across her mobile, online, and store experiences.

What is Chapter 11 and what does it mean to file for Chapter 11? Chapter 11 is a section of the U. Bankruptcy Code that allows companies to reorganize finances through a court-supervised proceeding while continuing to operate their business. Chapter 11 permits, and even encourages, daily business operations to continue as usual.

For ascena and our related brands, Chapter 11 is a tool reduce debt, strengthen our financial position and optimize our store fleet. A pre-arranged plan means that ascena has received overwhelming support for a comprehensive plan before filing for bankruptcy protection. This shortens and simplifies the Court process and reduces uncertainty.