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DebsFreebies
professor
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Fashion Bug going OUT OF BUSINESS!

submitted on August 24, 2012 by DebsFreebies in "Member's Lounge"
As a publisher, I received this email today:


"The Fashion Bug and Loop 18 brands have been proudly serving American women for 70 years. However, with the recently completed merger with the Ascena Retail Group, Inc., the extremely difficult decision has been made to close the Fashion Bug and Loop 18 businesses, with the website closing in early September 2012 and stores closing by 2013. After careful consideration, this decision was made when it became clear that our new company would not be able to develop a long-term plan for Fashion Bug or Loop 18 that would ensure collective success. However, the Fashion Bug sister brands - Lane Bryant, Cacique, Catherines and Sonsi continue to thrive and look forward to continued growth under the Asecena Retail Group, Inc. umbrella."
 

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  Comments
  • 158722
    Goofy_Girl
    professor
    12 8 1
    Posted by Goofy_Girl on August 24, 2012
    [reply] 1 0
    Noooooooooo! Sad

    Fashion Bug was my favorite of the group.
  • 158727
    2kidsnuts
    professor
    10 8 2
    Posted by 2kidsnuts on August 24, 2012
    [reply] 2 0
    Thanks for the info. I had heard a rumor but was hoping it was not true.
  • 158733
    HouTex
    admin
    Posted by HouTex on August 24, 2012 [reply] 0 0
    Sad. The first bit of information came out about 2 months ago in Business Week and the New York Times - http://www.buxr.com/topic/new-.....tores_6024
  • 158735
    skababy69
    learner
    4
    Posted by skababy69 on August 24, 2012
    [reply] 1 0
    I always preferred lane Bryant. Smile
  • 158736
    psplove
    professor
    3 1 6
    11 9 2
    Posted by psplove on August 24, 2012 [reply] 0 0
    Maybe that's why all clearance up to 80% off.. http://fashionbug.lanebryant.c.....index.cat?
  • 158737
    DebsFreebies
    professor
    2
    10 5 1
    Posted by DebsFreebies on August 24, 2012 [reply] 0 0
    In another story...."The owner of these retailers, Charming Shoppes Inc., plans to close a total of about 100 Fashion Bugs, 40 Lane Bryants and 10 Catherines"
      158738
    • HouTex
      admin
      Posted by HouTex on August 24, 2012
      [reply] 1 0
      The previous owner Charming Shoppes Inc. tried in 2008 to just close some under-performing stores, in an attempt to save the chain.
      That quote is here - http://retail.ocregister.com/2.....ationwide/

      But unfortunately the effort didn't help them, and they eventually sold out to Ascena Retail Group Inc. Here's what they paid - http://www.philly.com/philly/b.....chain.html

      The idea that it's a "merger" is just a public relations statement, Charming Shoppes Inc. actually no longer have any control over what happens to the rest of the stores that will close.
  • 158748
    clover
    professor
    1 6 7
    12 11 2
    Posted by clover on August 25, 2012
    [reply] 1 0
    They closed the one by me already. There is one about a half an hour away but if it couldn't make it my area (Orlando) that one will probably one of the first to hit the chopping block.
  • 158752
    bemicmom
    professor
    6 3 4
    10 9 2
    Posted by bemicmom on August 25, 2012 [reply] 0 0
  • 158826
    YanBz
    admin
    Posted by YanBz on August 26, 2012
    [reply] 1 0
    I added them to our list:
    http://www.buxr.com/wiki/retail_bankruptcies
    ..which is probably incomplete by now.

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