12/31/2022 0 Comments Lane bryant employee handbookThrough this process, we will continue operating our Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey brands in stores and online.To implement the RSA, we filed voluntary petitions for relief in the United States Bankruptcy Court under Chapter 11 of the United States Bankruptcy Code.As part of the RSA, the Company has received commitments for $150 million in a new money term loan from its existing lenders.The RSA is expected to significantly reduce debt by approximately $1 billion and provide increased financial flexibility to enable the Company to continue its focus on generating profitable growth and driving value for customers and stakeholders.ascena has entered into a Restructuring Support Agreement (“RSA”) with over 68% of its secured term lenders.
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