Friday marks the beginning of the end for brick-and-mortar Dressbarn stores when final closeout sales begin at its remaining 544 physical locations.
Dressbarn’s intellectual property assets have been sold, and the process of transitioning its e-commerce business to a subsidiary of Retail Ecommerce Ventures LLC has begun.
The company has partnered with Boston-based investment company Gordon Brothers to assist in the closing process. During the closing, all merchandise will be discounted 20 to 40 percent. Existing gift cards will be honored until stores close, no later than Dec. 26.
Retail Ecommerce Ventures expects to relaunch dressbarn.com on or around Jan. 1, 2020. Co-owner Tai Lopez said in a statement that they plan to grow and expand the brand’s presence online.
“With our deep understanding and expertise in marketing and online brands, we are looking forward to taking this iconic brand to the next level,” said Alex Mehr, co-owner of Retail Ecommerce Ventures in a statement.
The company’s initial announcement of its wind down came in May when the 50-year-old retailer announced it had “not been operating at an acceptable level of profitability in today’s retail environment.”
At the time, it said it would assist employees through the transition process to closure and maintain relationships with its vendors and suppliers.
A Dressbarn spokesperson did not return request for comment by press time.