After absconding with $$ billions, many billions, from Staples and Belk, doing some similar financial hocus pocus with Nine West, we already see, in just a few weeks time, Sycko backing out of stated agreements to courrs and once again up to no good with their recent purchase of Ascena.
And some of you still want to believe something/anything about the upcoming Belk bankruptcy, most notablely "no store closures, business as usual." Look no further, Sycko has just disregarded (they lied?) agreements in Federal Banruptcy Court.
"Fearing store closures, mall landlords raise alarm about Sycamore's new version of Ascena"
"Major mall operator Simon Property Group, along with Taubman Landlords, have filed objections against Ascena Retail Group's Chapter 11 plan of reorganization."
The sticking point for Simon is what the company said was, under the original purchase agreement, a plan to keep at least 900 stores operating under the Sycamore entity and a master lease Simon entered with Ascena amid those negotiations. "The Purchaser's about face from the Master Agreement in favor of a far different, and worse, store lease portfolio, places the business at far greater risk than anyone contemplated at the time of the sale," Simon said. "