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Court approves sale of DressBarn parent company to private equity firm: WSJ
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Ascena Retail Group Inc. has won court approval to sell its Ann Taylor, Lane Bryant, Loft and Lou & Grey retail brands out of bankruptcy to private-equity firm Sycamore Partners in a deal valued at about $1 billion.
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DRESSBARN AND ANN TAYLOR OWNER HEADED FOR BANKRUPTCY? LENDERS REPORTEDLY NERVOUS
Judge Kevin Huennekens of the U.S. Bankruptcy Court in Richmond, Va., said Tuesday he would approve the sale of the majority of Ascena’s remaining assets to Sycamore Partners. The private-equity firm, which specializes in retail and consumer investments, had agreed last month to a purchase price of $540 million, subject to certain adjustments, the assumption of some liabilities and other terms.