| Women's clothing apparel store closing up shop! |
Women may find dismay in this story. The nation's low price women's clothing store is going out of business. In 2013, a new company took over and their vision is to stomp on Fashion Bug.Ascena Retail Group Inc. has completed its buyout of Charming Shoppes Inc., which owns the chain, and now plans to close the remaining several hundred Fashion Bug stores by early next year.
Fashion Bug will join Catherine's, Lane Bryant, Justice and Dress Barn in the new wave of consolidation.
No telling how many jobs will be lost in the acquisition of this retail store.
The New York based firm will begin immediate closing of all stores by early 2013. Fashion Bug is a women's fashion apparel retailer located in strip shopping centers. Fashion Bug offers fashion apparel and accessories in plus and misses.
The Charming Shoppes is a specialty and plus size clothing retail holding company based in Bensalem, Pennsylvania; a suburb of Philadelphia. Its subsidiaries are Lane Bryant, Fashion Bug, Cacique and Catherines Plus. Clothes are sold from over 2300 retail stores in the United States, as well as numerous catalogs and online sites. Charming Shoppes was founded in 1940, went public in 1971, and was ranked 810th on the 2010 Fortune 1000.
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