Maurices not impacted by sale of headquarters building
The sale was part of an acquisition of former owner Ascena's assets.
The building housing Maurices' headquarters in downtown Duluth showed up on a certificate of real estate value from the Minnesota Department of Revenue last week, but the $15 million sale will have no impact on the Maurices company.
Maurices' Chief Human Resources and Communications Officer Sue Ross said former owner Ascena Retail Group was following through on a transfer of ownership to private equity firm Sycamore Partners.
Sycamore Partners purchased Ascena and its assets, which included the building, in December 2020 for $540 million to bail Ascena out from bankruptcy.
Maurices has a long-term lease in the building at 425 W. Superior St. and is not affected by the acquisition.
The women's clothing retailer was purchased by European private equity firm OpCapita in May 2019 for $300 million and had no affiliation with Ascena's bankruptcy. Ross said Maurices is "faring well" and is in the process of adding employees. Thirty-nine employees were laid off in April due to financial strain caused by COVID-19.