DEAL DONE: Ascena Retail Group Inc. has completed its $890 million buyout of Layne Bryant owner Charming Shoppes Inc. and is taking steps to shed parts of the acquired business that it doesn’t want. For the moment, Ascena runs about 3,800 stores.
THE PLUS-ES: The deal gives Ascena access to the large-size women’s clothing market with Lane Bryant and Catherines Plus Sizes stores. Ascena already owns Dressbarn and Maurices stores that offer clothing for young and older women, while its Justice stores cater to girls ages 7 to 14.
GOTTA GO: Ascena plans to close Charming Shoppes’ remaining Fashion Bug operations by early next year and may sell Charming’s direct marketing business called Figi’s.
