PROGRESS CAPITAL STEFAN KAISER PLUS

Sycamore has approximately $10 billion in assets under management. The firm specializes in consumer, retail and distribution investments and partners with management teams to improve the operating profitability and strategic value of their business.

Sycamore Partners is a private equity firm based in New York. through its retail brands operates ecommerce websites and approximately 1,500 stores (as of August 29, 2020) throughout the United States.ДЇor more information about ascena retail group, inc.

PROGRESS CAPITAL STEFAN KAISER PLUS

(OTCMKTS: ASNAQ) is a national specialty retailer offering apparel, shoes, and accessories for women under the Premium Fashion segment (Ann Taylor, LOFT, and Lou & Grey) and Plus Fashion segment (Lane Bryant and Cacique).

Davis Polk & Wardwell LLP is serving as legal counsel to Sycamore Partners and Premium Apparel.ДЄscena retail group, inc. Guggenheim Securities, LLC is serving as the CompanyвЂ™s financial advisor. Court filings and other documents related to the Chapter 11 process are available at, by calling the CompanyвЂ™s claims agent, Prime Clerk, toll-free at (877) 930-4319 (toll free) or (347) 899-4594 (international) or sending an email to & Ellis LLP is serving as legal counsel to the Company and Alvarez and Marsal Holdings, LLC is serving as restructuring advisor. As previously disclosed, FullBeauty Brands Operations, LLC has completed its acquisition of CatherinesвЂ™ intellectual property assets and e-commerce business, and Justice Brand Holdings LLC, an entity formed by Bluestar Alliance LLC, has completed its acquisition of the intellectual property of Justice.ДЄdditional resources for customers and other stakeholders, and other information on ascenaвЂ™s financial restructuring, can be accessed by visiting the CompanyвЂ™s restructuring website at. The transaction is expected to be completed by mid-December. вЂњThese brands have significant potential, and we are excited about the opportunity to partner with ascenaвЂ™s talented team to continue delivering new and relevant experiences for customers.вЂќ вЂњAnn Taylor, LOFT, Lane Bryant and Lou & Grey are well-known brands, each with passionate associates and loyal customers,вЂќ said Stefan Kaluzny, Managing Director of Sycamore Partners. As our customersвЂ™ needs continue to evolve, our teams remain focused on delivering great fashion and memorable experiences, however our customer chooses to shop.вЂќ We are looking forward to the holiday season and beyond in Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores and online. Muto continued, вЂњI want to thank our associates, as well as our customers and vendors, for their support of ascena and our brands. We have worked diligently to maximize the value of all of our brands, and todayвЂ™s agreement with Sycamore is the latest example.вЂќ вЂњAt ascena, we have made significant progress in our financial restructuring process. The commitment Sycamore has made to our people and business is a testament to the long-term growth potential of our brands,вЂќ said Gary Muto, Chief Executive Officer. вЂњWe are pleased to announce an agreement with Sycamore Partners, an experienced and trusted leader in the retail sector. Under the APA, Premium Apparel has committed to retaining a substantial portion of the retail stores and associates affiliated with these brands. Premium Apparel will acquire the brand assets for a purchase price of $540 million, on a cash-free and debt-free basis, subject to certain adjustments, and the assumption of certain liabilities. (OTCMKTS: ASNAQ) and certain of its subsidiaries (collectively, вЂњascenaвЂќ or the вЂњCompanyвЂќ) today announced that it has entered into an asset purchase agreement (вЂњAPAвЂќ) with Premium Apparel LLC, an affiliate of Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, to sell ascenaвЂ™s Ann Taylor, LOFT, Lane Bryant and Lou & Grey brands. 26, 2020 (GLOBE NEWSWIRE) - ascena retail group, inc. Agreement Outlines Plan to Sell Ann Taylor, LOFT, Lane Bryant and Lou & Grey

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