Justice Just For Girls Is Filing For Bankruptcy And Is Closing More Than 600 Stores
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The chain outsold the much larger Walmart and Target stores in the girls’ apparel category during the 4th quarter of 2011 and the 1st quarter of 2012. The remaining Justice stores will serve customers through the holidays and then will close early next year. New Albany-based tween retailer Justice has been sold as part of the bankruptcy case of its parent company, Ascena Retail Group. Like other apparel retailers with a heavy commitment to shopping malls, Ascena was grappling with declining foot traffic long before the coronavirus pandemic, which has led to an increase of retailers filing for bankruptcy. New Jersey-based Ascena, which also operates Lane Bryant, Catherines, Ann Taylor, Loft, Lou & Grey and Cacique, filed for bankruptcy Thursday with plans to shutter around 1,600 of the company’s 2,800 stores, according to court documents.
The company said in the bankruptcy filing that it planned to shutter all of its Catherines plus-size stores and “intends to transition Justice to a primarily online platform and continue Lou & Grey within go-forward LOFT stores.” SB360 Capital Partners will manage the going-out-of-business liquidation sales, court records show. The firm managed Charlotte Russe’s 2019 liquidation, Charming Charlie, Fred’s and is currently handling Modell’s Sporting Goods’ closing sales.
The sale is announced as part of a bankruptcy plan for Ascena Retail who sold Justice to Blue Star Alliance. Ascena Retail originally filed for Bankruptcy Chapter 11 in July and announced the closure of all Catherines stores, some Lane Bryant, Ann Taylor Factory and Justice stores . At that time, the Justice store at the CoolSprings Galleria was not listed as a store to close.
Last week,Bed Bath & Beyond announced 63 more stores will close by the end of 2020with 200 of its namesake stores expected to close over the next two years. The recent round of Justice liquidation sales moved fast, added Ziggy Schaffer, also an executive vice president at SB360. New Jersey-based Ascena, which also operatesLane Bryant,Catherines,Ann Taylor, Loft,Lou & Greyand Cacique, filed for Chapter 11 bankruptcy protection July 23 and announced plans to shutter around 1,600 of the company’s 2,800 stores. In a release, Bluestar said it plans to expand the Justice brand into new product categories, including “unexpected” accessories, tech, home and more. As many as 25,000 stores could shutter this year as businesses continue to feel the impacts of the pandemic, according to a recent report from Coresight Research. Boston Moms is a rapidly growing community of moms in the Boston area.