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Ann Taylor dad or mum Ascena data files for bankruptcy as pandemic crushes now troubled retailer

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Ascena Retail Team Inc.
ASNA,
-6.47%
,
mum or dad of the Ann Taylor and Loft retail chains, submitted for voluntary Chapter 11 individual bankruptcy on Thursday, with a restructuring arrangement supported by much more than 68% of its secured expression loan providers, crushed by the outcomes of the coronavirus pandemic on its now troubled company. The Mahwah, New Jersey-dependent enterprise stated it expects to lessen personal debt by about $1 billion in its pre-arranged restructuring, furnishing amplified economic versatility to turn into profitable. “The meaningful progress we have produced driving sustainable advancement, improving upon our functioning margins and strengthening our economical basis has been seriously disrupted by the COVID-19 pandemic,” Interim Executive Chair Carrie Teffner mentioned in a statement. “As a final result, we took a strategic action forward currently to secure the long run of the business enterprise for all of our stakeholders.” Ann Taylor, Loft, Lane Bryant and other chains will continue on to function via the restructuring with about 95% of suppliers open up. But the company will minimize its footprint by closing a major number of Justice shops and sure Ann Taylor, LOFT, Lane Bryant and Lou & Grey suppliers. “This includes the exit of all merchants throughout brands in Canada, Puerto Rico and Mexico and the closure of all Catherines outlets,” claimed the assertion. Ascena has $150 million in funding from present loan companies and expects that sum merged with hard cash flow created by ongoing functions and money on hand to be enough to fulfill its requires. Shares, which are trading beneath a dollar, were being up 3.8% premarket, but have fallen 90% in the yr to day, even though the S&P 500
SPX,
+.57%

has gained 1.4%.

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Portuguese historical films will premiere on 29 December.

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Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

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CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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