Ascena Retail Group has announced that Justice brand has been acquired by Bluestar Alliance LLC for approximately $90M.
Justice stores will remain open and continue serving customers through the holiday season. A wind down of all Justice locations is expected to conclude by early 2021. In addition, Justice customers can continue to shop online at www.shopjustice.com through the holidays.
Gary Muto, Chief Executive Officer of Ascena, commented, “The conclusion of the sale process for our Justice brand is a significant step forward in our efforts to complete our restructuring process and maximize value for all our stakeholders.”
Mr. Muto continued, “The optimization of our portfolio better positions Ascena for long-term success and supports our vision for the future. As we seamlessly transition ownership of Justice over the coming weeks, we remain committed to delivering meaningful experiences for our customers every day. I thank our entire team for their continued focus as we prepare for the important holiday season.”
The transaction is subject to approval.
