Home / Knowledge / News / Apparel/Garments / Dress Barn completes holding company reorganization
Dress Barn completes holding company reorganization
04
Jan '11
The Dress Barn Inc announced that on January 1, 2011, it completed its previously announced holding company reorganization. A new Delaware corporation, Ascena Retail Group Inc, or Ascena, has replaced The Dress Barn Inc as the publicly held corporation. January 3, 2011, the shares of Ascena common stock will commence trading on the NASDAQ Global Select Market under the ticker symbol "ASNA".

The purpose of the reorganization is to provide the company with strategic, operational and financial flexibility. Incorporating the new holding company in Delaware will allow the company to take advantage of the flexibility, predictability and responsiveness that Delaware corporate law provides. The business operations, directors and executive officers of the company will not change as a result of the reorganization.

As a result of the reorganization, dressbarn, maurices and Tween Brands, which operates our Justice brand, became subsidiaries of Ascena, and DBI shareholders automatically became stockholders of the new Delaware holding company on a one-for-one basis, holding the same number of Ascena shares and same ownership percentage after the reorganization as they held immediately prior to the reorganization.

The reorganization was tax-free for DBI shareholders. The reorganization was approved at DBI's annual meeting of shareholders on December 17, 2010.

David R. Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, "In recent years, we've become a fundamentally different company that extends well beyond the original dressbarn concept and brand. We have become a family of retail brands, each serving a unique customer niche, each essential to our combined success. This name change reflects that reality as well as our vision for the future. We also believe that adopting a new holding company structure will enable each of our brands to better leverage our shared corporate infrastructure and to focus their efforts on delivering a great experience to their customers."

Ascena Retail Group Inc is a leading national specialty retailer of apparel for women and tween girls operating under the dressbarn, maurices and Justice brands. The Company operates 2,487 stores.

The Dress Barn Inc


Must ReadView All

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Jharcraft in India’s Jharkhand signs MoU with Banka Silk

Textiles | On 24th Feb 2018

Jharcraft in India’s Jharkhand signs MoU with Banka Silk

The Jharkhand Silk Textile and Handicraft Development Corporation...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search