Justice Sold For $90 Million As Part Of Ascena Bankruptcy
Additional information about Bluestar Alliance can be found by visiting the corporate website, Ascena Retail Group, which filed for bankruptcy in July, has received a $90 million bid for Justice’s intellectual property and other brand assets and the assumption of some liabilities. With court approval expected today, the new owner will be Justice Brand Holdings, which was formed by brand management company Bluestar Alliance. In addition, Justice customers can continue to shop online through the holidays. Ascena sold the brand to Bluestar Alliance LLC at auction for around $90 million.
According to a company release, the new Justice collection will include more than 140 items across tween fashion, jewelry and accessories, bedding and bath, backpacks, stationery, skateboards and even tech accessories. The company officially operates as Justice Brand Holdings LLC. For now, Justice will remain an e-commerce brand, since Bluestar didn’t acquire any of the company’s remaining real estate properties, which shut down after the holiday season. On June 25, 2009, Dressbarn announced that it would buy Tween Brands, Inc, in a friendly acquisition. In 2010, Tween Brands began a boys clothing line entitled “Brothers”.
In 2018, Justice launched an original series of graphic novels and toys called Ultra Squad designed to be empowering to tween girls; the book series was well received and is currently on its fourth volume. On July 10, 2006, Too Inc. completed its name change to Tween Brands, Inc., and began trading on the NYSE under the symbol, ‘TWB’. In February 2008, there were 582 Limited Too stores in 47 states and Puerto Rico as well as 25 franchised stores in the Middle East.
FREEHOLD, NJ – Tween clothing brand Justice will shut down all of its locations, including eight stores in New Jersey, its parent company Ascena Retail Group announced Wednesday. Ascena acquired the Justice chain in 2009 to expand into the tween market. By fall 2019, the chain had 826 stores, and sales had declined slightly from the previous year. As the Justice brand changes hands, it is winding down all of its physical stores, which is expected to be finished in early 2021, according to a separate press release from Ascena emailed to Retail Dive. Ascena Retail Group Inc., the parent of tween clothing brand Justice, announced it will wind down all locations by early 2021, just a few months after shuttering 21 New Jersey stores.
We are passionate about engaging with our readers offline through our exciting local events that connect moms to each other and great businesses. Sure, as a parent, sometimes the clothes seemed a bit overpriced. Some shirts were too thin; occasionally there was too much polyester and glitter.