Introduction
Our previous articles on Ascena Retail Group (NASDAQ:ASNA) have centered on the bankruptcy and liquidity concerns that drove shares to as low as $0.20. We argued that bankruptcy was unlikely given the company's debt profile and the steps that management has taken to mold Ascena into a leaner and more profitable enterprise. It's become evident that bankruptcy is not imminent, per the below comments made by interim executive chairwoman Carrie Teffner on the Q4 earnings call:
Of the options being considered, to be clear and for the avoidance of doubt, bankruptcy