Figi's On the Market
Saturday, June 16th, 2012 -- 7:03 AM
-Figi's is on the market again.The Marshfield-based company's new owner plans to sell it.
Figi's leadership informed employees of the decision Friday morning.
It was announced last month that Charming Shoppes, the Pennsylvania-based company that has owned Figi's since 2005, was being sold to Ascena Retail Group, owner of the Dressbarn, Maurices and Justice brands, for about $900 million. That merger was officially completed Thursday and announced Friday.
David Jaffe, Ascena president and CEO, hinted last month that Ascena might look to sell Figi's, a direct marketing business that is "a different type of business than our other brands."
Jaffe confirmed Thursday that Ascena is putting Figi's on the market.
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