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Report: Ann Taylor owner prepares bankruptcy filing

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Ann Taylor and Lane Bryant owner Ascena Retail Group Inc. is preparing to file for bankruptcy, people familiar with the matter told Bloomberg.

The sources said the company plans to shutter at least 1,200 of its 3,000 U.S. stores.

Ascena temporarily closed its stores in mid-March and began reopening them in early May amid the coronavirus pandemic.

Read more from Bloomberg.

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