One major company is filing bankruptcy and another is closing a number of stores in the latest bad news for national retailers.  Both have locations in Shreveport/Bossier City.

This past Thursday Ascena Retail Group announced that it would be closing up to 650 locations of its popular clothing stores.  These include such well known brands as Ann Taylor, Dress Barn, Loft, Lane Bryant, Justice, Maurices and Catherines all of which have locations in Shreveport/Bossier.  Ascena's CEO said that 250 stores would definitely be closing and more would do the same unless the company can negotiate lower rental rates at the remaining locations.  No word on where the endangered stores are located.

National children's clothing retailer Gymboree filed for bankruptcy protection on Monday.  The company has nearly 1,300 stores, including a location in Mall St. Vincent and an outlet on the Louisiana Boardwalk.  Gymboree has not yet revealed if there will be store closings included with the company's restructuring.

The outlook for traditional retail stalwarts like Macy's, Sears, and J.C. Penny is dire. Almost all of the problems facing these companies can be attributed to customers doing their buying online with digital retailers, primarily Amazon.

The good news is, shoppers are still looking for bargains.  TJ Maxx and Dollar General are both having profitable years.

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