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Ascena Will Shut 1,600 Stores and See ‘Substantial’ Layoffs

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As many as 25,000 stores are expected to close this year—and hundreds of them will be locations operated by newly bankrupt Ascena Retail Group. Though early speculation said the parent to nameplates like Ann Taylor and Lane Bryant would close about 1,200 stores, the number stands significantly higher at 1,600, leaving its fleet at approximately…

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