Premier Brands Justice LLC entered into an asset purchase agreement to acquire e-commerce business and other assets of Justice brand of Ascena Retail Group, Inc. for $35 million on October 13, 2020. Premier Brands Justice LLC will serve as the stalking horse bidder. IHL Group entered into an asset purchase agreement to acquire e-commerce business and other assets of Justice brand of Ascena Retail Group, Inc. on October 13, 2020. That asset purchase agreement is subject to higher or otherwise better offers, among other conditions. Steve Toth and Mariska S. Richards of Kirkland & Ellis LLP acted as legal advisors and Guggenheim Securities, LLC acted as financial advisor to Ascena Retail Group, Inc. Alvarez and Marsal Holdings, LLC is serving as restructuring advisor. Premier Brands Justice LLC cancelled the acquisition of E-commerce Business And Other Assets Of Justice brand Of Ascena Retail Group, Inc. on October 14, 2020. As of October 14, 2020 Ascena Retail Group received another bid from Bluestar Alliance, LLC which superseded the previous bid.