Ascena Retail Group to sell Justice for $90M, all remaining stores to close

Ascena Retail Group has reached a deal to sell Columbus, Ohio-based Justice for $90 million, with a wind-down of all its remaining stores expected to conclude next year. New Jersey-based Ascena (OTCMKTS: ASNAQ) will sell the tween brand's intellectual property and other assets to Justice Brand Holdings LLC, which is an entity formed by private New York City brant management company Bluestar Alliance LLC, following a competitive bidding process. Bluestar won out over the previously announced stalking…