Justice Sold For $90 Million As Part Of Ascena Bankruptcy
Remaining Justice “tween” clothing stores across the country, including the one in The Empire Mall, will close, but the brand will live on through a new owner. As part of its bankruptcy restructuring plans, Ascena said it would take its Justice brand to an all-digital platform. The retailer also closed all of its Catherines stores, but recently found a buyer for the brand in FullBeauty as part of a nearly $41 million deal,Retail Dive reported. Yes, these other brands under the parent company umbrella of Ascena are also seeing stores close. Their parent company, Ascena, made the announcement that they are filing for bankruptcy. A hearing is set for Thursday to consider the sale in the federal bankruptcy court overseeing Ascena’s Chapter 11 case.
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Justice also sold licensed merchandise from popular Nickelodeon and Disney Channel franchises, such as iCarly, Victorious, Wizards of Waverly Place, and Liv and Maddie. Like other apparel retailers with a heavy commitment to shopping malls, Ascena was grappling with declining foot traffic long before thecoronavirus pandemic, which has led to an increase of retailers filing for bankruptcy. The Justice brand, formerly Limited Too, is geared toward girls ages 6 to 12. It joined Ascena in 2009 and, before the store closures, had 826 specialty retail and outlet stores.
Additionally, Justice has exited international markets due to the bankruptcy of Ascena Retail Group. On September 24, 2020, Justice announced an additional 23 Justice stores will be closing, leaving 83 stores by the end of October. On October 22, 2020, Ascena announced the remaining 83 Justice stores will also be closing as a part of their bankruptcy filing. Justice sold apparel, underwear, sleepwear, swimwear, lifestyle, accessories, and personal care products for girls age 6–16. Tween Brands operated 900 Justice stores at the time of its acquisition by DressBarn, many of which were converted from Limited Too during 2008 to 2010. A liquidation sale has begun, with everything marked 60 – 80% off.
This initial release will feature an assortment of apparel and accessory products that Justice wants to scale up in time for the back-to-school season. In a letter on the revived website, Justice said that the e-commerce experience has an array of new fashion and lifestyle products for tween girls including button-up tops, tanks, leggings, cardigans and pajama sets. The tween apparel brand on Monday launched a new website, Shopjustice.com, that features an assortment of apparel and accessory products for young girls. In November, Bluestar Alliance acquired the intellectual property of Justice for $90 million at an auction conducted by the brand’s bankrupt parent, Ascena Retail Group. Ascena had previously closed about 600 of Justice’s 820 stores, with the remaining locations shuttered early this year. Although exact closing dates have not been announced, stores will remain open through the holiday season.