1. News
May 21, 2019

Dressbarn plans to close all 650 retail stores across US

ascena retail group’s clothing brand for women Dressbarn is planning to gradually close all of its approximately 650 stores and other retail operations in the US.

ascena retail group’s clothing brand for women Dressbarn is planning to gradually close all of its approximately 650 stores and other retail operations in the US.

The retailer noted that all of its stores and its e-commerce site, will continue to open for business and serve customers as usual. No changes have been made to the company’s return, refund or gift card policies and customers can use Dressbarn-branded credit cards for purchases.

Dressbarn chief financial officer Steven Taylor said: “This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment.

“The Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment.”

“During the wind down process, we will continue to provide our customers with the same great experience both in-store and online, offering them even better deals and value.

“We will work to assist our associates through the transition and maintain existing relationships with our vendors, suppliers, and other key stakeholders through this process.”

The retailer will also notify its associates after making a decision about specific store closures and will offer transition support to them. It also plans to continue paying its vendors and suppliers for products and services offered to the company during the process.

Dressbarn has retained A&G Realty Partners to assist on real estate-related matters, during the wind down process.

Financial advisory and investment banking firm Algon Group president Troy Taylor has been named as independent director to Dressbarn’s board of directors.

An ascena retail spokesperson said: “This decision has no impact on the operations of any of ascena’s other brands and will strengthen the company’s overall financial performance.”