$ASNA - Just m’y take with this situation:
*Presently has 2,800 stores.
Even before the pandemic, Ascena was experiencing financial troubles of its own making, with sales sliding and borrowings that ballooned to more than $1 billion. Some of its debt is quoted at less than a quarter of its face value.
Filing for protection is in play and if all fails, BK will for follow suit.
My experience tells me that secure creditors will want more than what will be offered as a settlement.
EComm would have been a great salvation had it been place for $ASNA.