Ascena Retail Group Inc (ASNA) Quote

ASNAQ: BK PLAN effective. All shares cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions

44% short interest, what’s going on behind the scenes?

so why you here....just taking a peek like me....or shorting.
ASNAQ was discussed in a chat
But after looking at the chart and talk
i guess i'll just mossy along

I suppose everyone has given up on ASNAQ? No posts in nearly 2 months.

$ASNAQ

I’m surprised the share price is holding up as well as it is.

$ASNAQ

ASNA changed to ASNAQ, bankruptcy. Delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

From JCP, you know the odds for ASNA are terrible. One of the many reasons my large portfolio has outperformed is I never touch certain sectors. Retailing is near the top of my shunned sectors.

Well, this just showed up in my TDAmeritrade account ...

https://reorgdocumentlibrary.broadridge.com/Client/Client?data=0720/N48556/04351G/c

Been more than 25 years since commons survived intact in a BK of a publicly held retailer.

Do your DD. My understanding is that current shares will at some point be cancelled and new shares issued in the new company. There will be a debt for equity swap for approximately 1.27 billion of their current debt.

Monster!!!

I remember CHK and ton of others, so I believe you. Bought in just before the market closed at $1 and picked up a ton of shares.

Float of 9.8M or so, 35% of the float is short which is crazy, and for a BK play, the news they received Friday couldn’t have been better and everyone knows the goal is to keep companies a float, not watch them close down.

Anything could happen obviously but I wouldn’t be surprised to see this hit your estimations easily.

Yeah but it will open above $2 at 0930. Going to be a 300-500% runner tomorrow with crazy volume. These BK plays can get insane!!

i know nothing it is just an article.

The same shares shareholders have now?

ASNA has filed a motion for the auction of the IP of their Catherine's group. This is a stalking horse auction with an initial bidder of City Chic at a minimum bid of $16mm. Motion hearing scheduled 8/20/1010. Auction scheduled for 9/9/2020.

DD...about bankruptcy

This is a pre-packaged bankruptcy filing where lenders have agreed to swap about $1 billion in debt for shares in the restructured company to emerge from bankruptcy.

...In terms of liabilities, Ascena listed $3 billion,...

...Ascena had 3,500 stores a year ago, and plans to emerge from bankruptcy with 1,200 stores....

https://wolfstreet.com/2020/07/24/brick-mortar-retailers-malls-and-their-debts-the-whole-schmear-is-coming-apart/

Gonna hit 1.50 pm on Monday

VERY PROFITABLE ATM! > Congrats to all!

Nice double on 13K in session here...
I would be the one who does not normally day trade,...lol. Warren B would be proud of me!

* * $ASNA Video Chart 07-24-2020 * *

Link to Video - click here to watch the technical chart video

1.42 > making bank pal. Have a great weekend!

ASNA

News: $ASNA ascena retail group Receives Court Approval of "First Day" Motions to Support Business Operations

Ann Taylor, LOFT, Lane Bryant, Justice and Lou & Grey Continuing to Serve Customers with Compelling Fashion Assortments and an Exceptional Shopping Experience MAHWAH, N.J., July 24, 2020 (GLOBE NEWSWIRE) -- ascena retail group, inc. (Nasdaq: ASNA) and certain of its subsidiaries (co...

Read the whole news ASNA - ascena retail group Receives Court Approval of "First Day" Motions to Support Business Operations

I've never owned this free falling POS, or anything like it.

Learn when to sell. I am long gone. Day trade ASNA

Profits from several trades. GLTY

New unwashed masses joining the old unwashed masses in this "play du jour." Love when they quote book values from LAST YEAR.

459 new buyers > ASCA:

https://robintrack.net/popularity_changes

"Robinhood traders eye bankrupt Ascena Retail"

The comments on who plays such BK stocks are hilarious.

https://seekingalpha.com/news/3594768-robinhood-traders-eye-bankrupt-ascena-retail

News: $ASNA Store Closing Sales Underway At All Catherines Stores, Significant Number Of Justice Stores, And Select Ann Taylor, LOFT, Lane Bryant, And Lou & Grey Stores, Including All Stores Across Brands In Canada And Puerto Rico

Store Closing Sales Underway At All Catherines Stores, Significant Number Of Justice Stores, And Select Ann Taylor, LOFT, Lane Bryant, And Lou & Grey Stores, Including All Stores Across Brands In Canada And Puerto Rico Store Closing Sales Underway At All Catherines Stores, Sign...

Read the whole news ASNA - Store Closing Sales Underway At All Catherines Stores, Significant Number Of Justice Stores, And Select Ann Taylor, LOFT, Lane Bryant, And Lou & Grey Stores, Including All Stores Across Brands In Canada And Puerto Rico

Ann Taylor and Lane Bryant Owner Joins Growing List of Retailers Filing for Bankruptcy -- Barrons.com
6:19 pm ET July 23, 2020 (Dow Jones) Print
By Kantaro Komiya

The parent company of Ann Taylor and Lane Bryant, Ascena Retail Group (ticker: ASNA), joined a growing list of retailers filing for bankruptcy after suffering declining sales from the coronavirus shutdowns.

Ascena owns about 2,800 stores of the two brands and others like Loft, Lou & Grey, Catherines, and Justice, at malls in North America. As the operation has been "severely disrupted" by the pandemic, "we took a strategic step forward today to protect the future of the business for all of our stakeholders," Carrie Teffner, Ascena's interim executive chair said in a Thursday statement.

The company will close 1,600 of the 2,800 in an effort to eliminate its debt by $1 billion, Teffner said, according to a court document filed in the U.S. Bankruptcy Court in Richmond, Virginia, on Thursday.

"Approximately 1,000 of the closing stores are related to the Catherines and Justice brands, but the debtors intend to exit certain stores related to the core, go-forward brands as well" such as Lane Bryant, Teffner added. A partial list of stores to be closed under the management of liquidation specialist SB360 Capital Partners is also attached to the filing.

Ascena's move follows recent bankruptcy filings by retailers like Brooks Brothers, J.Crew, J.C. Penney (JCPNQ), Neiman Marcus, and Lucky Brands. Retail has generated more bankruptcies than any sector this year, representing about 19% of $48.7 billion default volume so far according to Eric Rosenthal, senior director at Fitch Ratings.

Now the sector is seeing an all-time high default rate. "Ascena's bankruptcy propels the retail trailing twelve month institutional term loan default rate to a record 17% from 15.1% at June end," Rosenthal said in a statement.

Other publicly-traded retailers on the verge of default include Tailored Brands (TLRD) and Lands' End (LE). Tailored Brands, which operates Men's Wearhouse and JoS. A. Bank, issued a warning last month on its battered business.

Mahwah, New Jersey-based Ascena employed 53,000 employees as of August 2019, and 40,000 of them worked on a part-time basis, according to its annual Security and Exchange Commission filing. In March, the company temporarily closed all stores and furloughed associates amid the lockdown, while reducing costs by cutting salary, advertising expenses and planned capital expenditures, another recent filing said.

Ascena reopened 95% of its stores to date as local government regulations eased, yet the sales loss from the locked-down period was too huge for the brands, which depended nearly two-thirds of the total revenue on brick-and-mortar shoppers. The company saw a 45% decline in sales in the three months through May 2, and had outstanding debt of $1.3 billion, against $439 million in cash and cash equivalents, according to a preliminary report.

Besides liquidation, which is subject to court approval, Ascena said it also received $150 million in a new capital term loan from existing creditors to continue operation while restructuring.

But the impact of the pandemic was only the culminating trigger for Ascena's years-long struggle, with debts stemming from acquisitions. In 2015, Ascena bought the parent company of women's apparel Ann Taylor for over $2 billion to pursue cost synergies and extensive presence in shopping malls. But competition intensified from fast-fashion brands and online commerce, and the deal did not generate decent cash to pay off liability as intended.

Shares in Ascena have plunged since January 2014, when it was priced above $400, to just around $7 at the beginning of this year before the Covid-19 crisis. Ascena stock on Thursday closed at $0.59 cents per share, down 25.7%.

(END) Dow Jones Newswires

Who buys crap like this? [ASNA]"... filed Chapter_11 bankruptcy protection, a move spurred by the COVID-19 pandemic.

New Jersey-based Ascena Retail Group, which also operates Ann Taylor Loft, Catherines, Lou & Grey and Cacique, plans to "reduce their store fleet from approximately 2,800 stores to approximately 1,200 stores," the company said in court records Thursday. The planned closures are a 56% "reduction in the total store fleet."

The company said in the bankruptcy filing that it plans 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."

https://finance.yahoo.com/news/lane-bryant-ann-taylor-owner-112213063.html

Good day today but I would wait until this takes a steep plunge to at least $0.50. I think the BK news needs to break. If they get delisted and moved to OTC then $0.20’s-$0.30’s possible.

$ASNA

Time to buy yet? Thanks!!!

YAWN

Which one of you bought the 437,000 shares at the bell at $2.04 ???
Must have been a pre-arrainged buy/sell ... ;)

Times pass and we have no choice but to change with them or perish.

The links demonstrate a number of important things including the disappearance of one or more priorly operating chains. Additionally, I have to wonder how attractive these properties will be, Retail space has to be undergoing a massive process leading to devaluing. Thus, I'm not so confident that Ascena is deserving of as much value as some will insist.

Timelines mean everything now. Seeing stances in the links, some dating back 5 years---has me not trusting in the veracity underlying the purpose in displaying the material.

I am a stock holder in ASNA but I'm not confident that my investment will work out as hoped.

Worse, the pandemic is definitely the realllly big elephant in the room and it may take much longer to resolve retail issues than faith, hope and money may devour. There are times when all the logic in the world won't necessarily dissolve realities not so easily dismissed.

In a different world not beset by a pandemic killing thousands upon thousands around and among us, retail businesses might have a greater chance of surviving but I'm not here hoping for survival. I want to see my estate prosper.

$ASNA Some perspective comparisons of Ascena to L Brands, VFC, PVH, Hanes, Tailored, Caleres, Express, and Designer Brands

REVENUE: (Last TTM numbers. Waiting on ASNA updates)
$LB - $11.94 Billion
$VFC - $10.49 Billion
$PVH - $8.90 Billion
$HBI - $6.70 Billion
$ASNA - $5.45 Billion
$DBI - $3.49 Billion
$TLRD - $2.88 Billion
$CAL - $2.64 Billion
$EXPR - $1.78 Billion

Total DEBT: (*Yahoo includes Leases)
LB - $9.04 Billion
VF - $5.21 Billion
PVH - $5.08 Billion
HBI - $5.01 Billion
ASNA - $2.11 Billion
TLRD - $2.05 Billion
CAL - $1.40 Billion
EXPR - $1.27 Billion
DBI - $1.22 Billion

TOTAL DEBT/SALES
LB - 76%
HBI - 75%
EXPR - 71%
TLRD - 71%
PVH - 57%
VF - 50%
CAL - 53%
ASNA - 39%
DBI - 35%

MARKET CAP:
VF - $23.773 Billion
LB - $ 4.266 Billion
HBI - $ 4.144 Billion
PVH - $ 3.395 Billion
DBI - $ 437 Million
CAL - $ 310 Million
EXPR - $ 124 Million
TLRD - $ 60 Million
ASNA - $ 18 Million

$ASNA Penny players normally eat this #deepvalue stuff up. Maybe they are unaware of the stock price lows for A Fortune 500 Multi Billion in sales company, currently trading at a $18 Million Market Cap?!?! With 7 Brands under it's pervue (Ann Taylor, LOFT, Lou&Grey, Lane Bryant, Cacique, Catherines, and Justice. +49% ownership of Maurices). Almost 2,800 stores.
Multi Millions in owned real estate. $440 Million in Cash. Debt due 2022

Mahwah NJ Corporate Office:
https://www.google.com/maps/place/Ascena+Retail+Group+Inc+(ASNA)/@41.0752905,-74.167876,129a,35y,244.33h,56.18t/data=!3m1!1e3!4m5!3m4!1s0x89c2e1758716d0ef:0xf8ab8323bed44581!8m2!3d41.0738813!4d-74.171283

Justice Corporate Office in New Albany, OH
https://www.google.com/maps/@40.0917715,-82.8010987,3a,74.9y,127.22h,91.55t/data=!3m6!1e1!3m4!1sWPu13wnqEszACNAx0vFNrw!2e0!7i16384!8i8192

Maurices's Corporate Office Still owned by Ascena in Minnesota
https://www.google.com/maps/@46.7822271,-92.1043173,3a,60y,359.1h,109.12t/data=!3m6!1e1!3m4!1s2td90IRiNWaoNSw88u2isA!2e0!7i16384!8i8192

Etna Ohio Corporate Office and Distribtuion Center
https://www.google.com/maps/@39.9615373,-82.7108895,3a,31y,323.07h,93.44t/data=!3m6!1e1!3m4!1sVdXFecaNUmqDWmz2Keh1IA!2e0!7i16384!8i8192

Distribution Center in GreenCastle, Indiana
https://www.google.com/maps/@39.6461356,-86.8115887,3a,75y,333.27h,89.67t/data=!3m6!1e1!3m4!1sZHhVwOTrahpTcFkeWUmTtA!2e0!7i13312!8i6656

I like this contrary to the short side play... Easily worth more than Market Cap. Re-Org was good news... When they pushed it to $1.03 I added bigly!

Some of us always thought they should lose poor performing Brands ... DB done, Justice,... soon.

Maurices 49% ... bank on it!

GLTA!

-Pete

Hit articles on ASNA all the time, but positivity surrounding all the others retailer? Come on Man!

Compare L Brands, PVH, Tailored Brands, Land's End, J Jill, and Caleres to Ascena.

REVENUE: (Last TTM numbers reported this won't be accurate now)
$LB - $12.9 Billion
$PVH - $6.97 Billion
$ASNA - $5.45 Billion
$TLRD - $3.16 Billion
$CAL - $2.92 Billion
$LE - $1.45 Billion
$JILL - $ 694 Million

DEBT: ( Including Recent Revolver Drawdowns)
LB - $6.43 Billion
PVH - $3.48 Billion
ASNA - $1.48 Billion
TLRD - $1.37 Billion
CAL - $ 573 Million
LE - $ 283 Million
JILL - $ 269 Million

DEBT/SALES (Prior to Covid-19)
LB - 50%
TLRD - 48%
JILL - 39%
PVH - 35%
ASNA - 27%
CAL - 20%
LE - 20%

MARKET CAP:
LB - $5.311 Billion
PVH - $4.845 Billion
CAL - $ 434 Million
LE - $ 312 Million
TLRD - $ 117 Million
JILL - $ 32 Million
ASNA - $ 25 Million

Hit Pieces on ASNA are Stupid!

More fun??? I'd feel really stupid losing $5 in junk like ASNA. Its filings were wall-to-wall red flags, even before malls all closed due to CV.

I'm a retired lawyer and decades-long blue chip investor. I always have plenty of LT gains.

Exactly-I have conservative account funds, blue chip funds and wild ass guess funds. Guess which ones are more fun? Only bet what you can afford to lose. 20 grand probably means more to you than it does tome so to each his own

To me this was a penny stock caliber high risk high reward. Just turned out wrong on a tip from investment buddies who followed someone else into it.

Now I need to hit a big one so as not to carry this loss forward into next accounting year

Buying this one was the worst trade of the last ten years, out this am PM with 20K lost.

Simon Property Group sues tenant for not paying rent

"Gap is being sued for refusing to pay rent for stores temporarily closed during the coronavirus pandemic.

Mall owner Simon Property Group said in a lawsuit filed this week that the clothing retailer owes three months of rent, totaling $65.9 million. Gap has more than 390 stores at Indianapolis-based Simon's malls, including its namesake brand, Old Navy and Banana Republic.

Simon, the nation's largest mall operator, temporarily shuttered all its properties in March after retail anchors at the locations such as Gap, Macy's and Nodstrom's closed their doors. Simon began reopening malls last month as states started easing restrictions on businesses in an effort to kickstart economic growth.

Gap and other major retailers, including sneaker seller Foot Locker, have said they wouldn't pay rent for stores that were forced to close due to the pandemic. In April, Gap warned that it may be sued by its landlords and that a dispute could be costly and have "an uncertain outcome."

This may have major ramifications for ASNA and its precarious cash position.

https://www.cbsnews.com/news/simon-property-group-gap-for-not-paying-the-rent/

SA: "Ann Taylor parent Ascena weighs bankruptcy filing - Bloomberg"

"Ascena Retail Group (NASDAQ:ASNA) is discussing a potential Chapter 11 filing with lenders after its business was disrupted by the coronavirus, Bloomberg reports.

The bankruptcy filing could come as soon as July and allow the company to keep some of its brands operating while it seeks to sell others, according to the report.

Ascena reportedly could sell three of its brands including Catherines in a court-supervised sale process, while keeping Ann Taylor and Loft as part of the company when it emerges from bankruptcy."

Be sure to read the many comments after the article from SA members.

https://seekingalpha.com/news/3580935-ann-taylor-parent-ascena-weighs-bankruptcy-filing-bloomberg

After hours release goong into a weekend-thats a real kick in the nuts to a shareholder base already reeling from an 80% drop in share price.

First a reverse split then bankruptcy-yessir lots of shareholder goodwill building in this pos.

Oh oh!... "Ascena Mulls Bankruptcy Filing to Manage Debt"

"(Bloomberg) -- Ascena Retail Group, the owner of the Ann Taylor and Lane Bryant apparel chains, is discussing a potential bankruptcy filing with lenders after its business was thrown into disarray by the Covid-19 pandemic, according to people with knowledge of the matter.

The Chapter 11 filing, which could come as soon as July, would allow the company to keep some of its brands operating while it seeks to sell others, the people said, asking not to be identified discussing a private matter. Ascena is considering selling three of its brands in a court-supervised sale process, including Catherines, while keeping Ann Taylor and Loft as part of the company when it emerges from bankruptcy, they said.

"Ascena’s lenders are starting confidential talks on a deal that would see their holdings exchanged for a majority stake in the reorganized company, said the people."

https://www.msn.com/en-us/finance/companies/ann-taylor-parent-ascena-mulls-bankruptcy-filing-to-manage-debt/ar-BB156pCC

Yeah, flipper field day...