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Maurices sold to London firm

By Michael Harrington • May 17, 2019 at 9:23 AM

PERKINS TWP. — Maurices has been sold to a British investment firm as the previous owner attempts to cut costs.

London-based OpCapita bough Maurices from Ascena Retail Group for about $300 million broken down into $210 million in cash and about 49 percent interest in firm, according to a Chain Store Age, a website that writes articles on the state of retail.

The woman’s clothing store has about 943 stores including a location in Perkins Township near Buffalo Wild Wings.

It’s the first investment in America by the British company, and Ascena will continue to support the store chain.

“We firmly believe that our consistent focus on operational discipline is a key differentiator embedded in the heart of our organization, and one we look forward to implementing at Maurices. As we establish Maurices as an independent stand-alone company, we welcome the continued support of Ascena through their retained stake and the range of services they will provide,” OpCaptia CEO Henry Jackson said when the deal was announced.

Ascena owns other retailers like Ann Taylor, Loft and Lane Bryant. According to Chain Store Age, the company made the sale to trim costs.

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