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Ann Taylor and Loft Change Hands in Sycamore’s $540M Ascena Deal

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Ann Taylor and Ann Taylor Loft are part of Sycamore's $540M deal for the brands still a part of Ascena Retail Group's remaining assets.
An Ann Taylor store in Manhattan.
CREDIT: Anthony Behar/Sipa USA via AP

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Bankrupt Ascena Retail Group Inc.’s exit strategy for its retail brands will be a sale to Premium Apparel LLC, an affiliate of private equity firm Sycamore Partners, for $540 million plus the assumption of certain liabilities. The transaction is set to close by the middle of December. Ascena said Thursday that the deal will include…

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