PRIVATE EQUITY OWNED
Ann Taylor / LOFT
Includes Ann Taylor, LOFT, KnitWell Group, Lou & Grey
fashion · Mahwah, NJ
- PE Firm
- Sycamore Partners →
- Year Acquired
- 2020
Sycamore scooped up two of America's most trusted women's fashion brands out of bankruptcy. For pennies on the dollar.
What They Did
- Sycamore Partners bought Ann Taylor, LOFT, Lane Bryant, and Lou & Grey out of Ascena Retail's bankruptcy for $540 million in December 2020
- Ascena's brands once pulled in over $7 billion in annual sales at their peak. Sycamore grabbed the survivors for $540 million.
- Consolidated Ann Taylor, LOFT, and Talbots into 'KnitWell Group' in August 2023
- Mall landlords objected in bankruptcy court within months of the deal, accusing Sycamore of planning to close more stores than agreed, including profitable locations
Since the Acquisition
- Dozens of Ann Taylor and LOFT stores have closed since the acquisition — mall landlords claimed in court that even profitable locations were on the closure list
- Stores keep closing into 2026, with LOFT locations in Durham, NC and Whitehall, PA and an Ann Taylor in Naples, FL all shutting their doors
Sources
- Iconic Apparel Brands Ann Taylor, LOFT and Talbots Come Together as KnitWell Group — PR Newswire(2023-08-30)
- Fearing store closures, mall landlords raise alarm about Sycamore's Ascena — Retail Dive(2021-03-15)
- Sycamore snaps up Ann Taylor, other remaining Ascena brands for $540M — Retail Dive(2020-12-10)
- Sycamore merges brands to form KnitWell Group — Fashion United(2023-08-31)
- Ann Taylor, Loft, Talbots form new KnitWell Group — Retail Dive(2023-08-30)
- 72-year-old mall retailer to close more stores in 2026 (Ann Taylor/LOFT) — Yahoo Finance / TheStreet(2026-04-03)