Ann Taylor Parent Secures $35M Ch. 11 Bid For Justice Line

Law360 (October 14, 2020, 6:16 PM EDT) -- The bankrupt parent company of clothing retailer Ann Taylor reached a deal late Tuesday with a stalking horse bidder that will offer $35 million for the company's young women's clothing chain Justice, setting a floor price to be tested at an auction.  

In a motion seeking approval of the stalking horse bid from Premier Brands Justice, Ascena Retail Group Inc. said it had transitioned away from its original plan to reorganize the Justice brand as an online-only presence and instead has chosen to sell off the assets related to Justice, including its intellectual property and e-commerce business.

"The debtors have determined,...

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