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Count Fashion Bug among the casualties of the low-priced clothing chain slump. According to WWD, the 568 stores that comprise the chain are liquidating $500 million in inventory at prices up to 50 percent off in a "Total Inventory Blowout Sale." Ascena Retail Group Inc. recently acquired Charming Shoppes Inc., which owned Fashion Bug, and is now apparently shedding all the brands that it doesn't want. So heads up for more chain closing in the near future and stay strong, store formerly-know-as Dress Barn.
· Fashion Bug Sets Liquidation Sale [WWD]
· Talbots Gets Outfitted With New Executive Team, Tries to do Something About Their Mom Store Image [Racked]