Dressbarn to close its 650 stores

Dressbarn to close its 650 stores

Dressbarn to close its 650 stores

"For more than 50 years, Dressbarn has served women's fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers".

"It has been our pleasure to serve you, making it all the more hard to let you know that the decision has been made to begin winding down the Dressbarn business", Gary Muto, CEO ofDressbarn's parent company Ascena Retail Group, said in a statement. After acquiring several other women's and kids' clothing brands, the company reorganized its structure in 2011 and changed its name to Ascena. We are still offering the same great customer experience, with even better deals and value.

The company was founded in 1962 by Roslyn S. Jaffe, who opened the Dressbarn's first store in Stamford, Connecticut. Ascena also owns Ann Taylor, Lane Bryant and other clothing stores.

Yet another major US retailer has announced they'll be closing all of their stores. The chain employs about 6,800 workers.

At this time, there is no set date for when they stores will completely be closed.

After the news was announced Monday, May 20, 2019, shares of Ascena Retail Group Inc. rose 2.6% to $1.17 in extended trading.

For now, all the stores are open and operating normally, Dressbarn said in a statement. Its demise marks the end of yet another chain born in the NY area, less than a year after the final shutdown of New Jersey-based Toys "R" Us.

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