Ascena Retail Acquires Charming Shoppes
June 18, 2012
Suffern, N.Y.-based Ascena Retail Group Inc. announced that it has completed its acquisition of Charming Shoppes. The company also said that it plans to cease operating and close down Charming Shoppes’ Fashion Bug business by early 2013. Additionally, Ascena is exploring a potential sale of Charming Shoppes’ Figi’s business, which markets food and specialty gift products. Charming Shoppes, whose banners include Lane Bryant, Fashion Bug and Catherines Plus Sizes, operates as a separate subsidiary of Ascena.