UPDATE: Ashley Stewart's Sale to Invus Group
Update 6/13/16: A representative for Ashley Stewart reached out to Strutter via email to clarify this post (originally published on June 7) about the plus size retailer's sale to Invus Group: Ashley Stewart wasn't under liquidation at any point during this sale. The brand has been flourshing since James Rhee took over in 2013. The sale of Ashley Stewart to Invus Group is encouraging for the plus size retailer, as Invus Group only takes on brands with potential. Original post 6/7/16, edited for two misspellings: Weeks after hearing how Ashley Stewart was thisclose to liquidation before turning its business around, the plus size retailer was sold to The Invus Group. The Invus Group, along with Ashely Stewart, acquired a big portion of the Company for affiliates of Clearlake Capital Group and FirePine Group
News of the sale is shocking to its loyal customers, who helped the brand bounce back from uncertainty. Last year, Ashley Stewart sales were up by 30 percent and earned $20 million. It was a monumental feat, compared to the last five years when the company was losing $5-$6 million a year.