Mahwah-based Dressbarn announced Monday plans to begin a wind down of its retail operations, including the eventual closure of its approximately 650 stores.
All Dressbarn stores are open and conducting business as usual, as is Dressbarn’s e-commerce site. Customers can continue to shop at Dressbarn in-store and online and use Dressbarn-branded credit cards for purchases.
There are no current changes to Dressbarn’s return, refund, or gift card policies.
Steven Taylor, chief financial officer of Dressbarn, 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.”
Plans for closing individual Dressbarn locations, including information about store closing sales, will be shared during the wind down process.
Dressbarn has retained A&G Realty Partners to assist on real estate-related matters. Troy Taylor, president of financial advisory and investment banking firm Algon Group, has been appointed as independent director to the board of directors of The Dress Barn Inc.
Dressbarn associates will be notified when decisions are made about specific store closures and provided with transition support. Dressbarn intends to continue paying its vendors and suppliers in full in the ordinary course for products and services provided to Dressbarn during its wind down process.
Dressbarn is an Ascena Retail Group Inc. brand.