On July 23, 2020, the company filed for Chapter 11 bankruptcy and announced the closing of all Catherines and Lou & Grey stores, a significant number of Justice stores, and a select number of Ann Taylor, LOFT, and Lane Bryant stores. On May 20, 2019, Ascena announced that it was closing all of its approximately 650 Dressbarn locations, which they did on December 26. Ascena president and Chief Operating Officer Brian Lynch also left the company on May 1. Ascena Brands president and CEO Gary Muto replaced Jaffe as Ascena Retail Group's CEO. On May 1, 2019, David Jaffe stepped down as Ascena's CEO and as chairman of the board after a 27-year tenure, although he retained a non-chair board seat. Ascena Group completed its acquisition of Ann Inc on August 21, 2015. On May 18, 2015, Ascena Group agreed to a $2.16 billion acquisition of Ann Inc., the parent company of clothing retailers Ann Taylor and Loft. In 2012, Ascena Retail Group acquired Charming Shoppes, which was the parent holding company for Lane Bryant, Cacique and Catherines Plus, for $900 million. Limited Too changed its name to Tween Brands in 2008, and the company had almost completely converted its remaining Limited Too stores to Justice stores at the time of the Ascena acquisition. Justice, which is aimed at girls between ages 7 and 14, is the successor of Limited Too, originally launched in 1987 by The Limited. In 2009, Ascena Retail Group expanded into the girls' clothing market by purchasing Tween Brands, the owner of the Justice chain of 891 stores. The name Ascena is derived from the previous parent company of Maurices, C&A Netherlands. In 2005, Ascena Retail Group acquired Maurices Inc.
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