Dressbarn is going out of business and will close hundreds of stores in the United States, threatening almost 7,000 jobs, its parent company said.
"This decision was hard, but necessary", Ascena finance chief Steven Taylor said in a statement. There are no current changes to Dressbarn's return, refund, or gift card policies.
"While the closure of Dressbarn was not inevitable, given the company's dire performance it comes as little surprise that Ascena has chose to head for the exit", said Neil Saunders, managing director of GlobalData Retail.
No closing dates or liquidation sales for any of the New Jersey-based retailer's stores were announced.
Their parent company, Ascena Retail Group, which also owns Ann Taylor and the Lane Bryant retail chains said the Dressbarn closures will not affect their other businesses. This means that we will eventually be closing all of our stores.
We invite you to shop with us and stock up before we close our doors.
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Dressbarn is a very popular women's retail clothing store that's been around for 57 years and has 650 different locations.
All Dressbarn stores are open for business, as is the chain's online site.
Details of the closing of individual locations and plans for job cuts will be shared as the wind-down progresses, the company said.
We appreciate your support, thank you for your loyalty, and look forward to seeing you in one of our stores soon.
The time frame of the closures, which includes 24 MA stores, has not been announced.