Fashion Bug to close all stores by early ’13

Staff report

Youngstown

Fashion Bug, a low-price clothing outlet for women, is slated to close all of its 600 stores nationwide by early 2013.

The decision, which will affect locations in Youngstown and Warren, comes after the store’s parent company, Charming Shoppes Inc., was acquired by New York-based Ascena Retail Group Inc. for $900 million.

It is unclear how many employees will be affected by the store closures. There are more than 18 Fashion Bug locations within 50 miles of Youngstown, according to the company’s website.

The move gives Ascena ownership of all Charming Shoppes’ operations, including Lane Bryant and Catherine’s Plus Sizes.

These stores will join Ascena’s other notable subsidiaries such as Maurices and The Dressbarn. According to a press release on the buyout, the acquisition will allow Ascena greater access to the plus-size market and a wider demographic.

Ascena decided to close the Fashion Bug outlets after it conducted a strategic review of the company’s business performance. In 2011, Charming Shoppes closed 124 of the stores nationwide.

Additionally, Figi’s, an online specialty-foods retailer, which also was acquired by Ascena in the buyout, could be closed as the company explores dumping those brands that don’t fall in line with its clothing business.