After more than half a century in business, Dressbarn has announced it is winding down operations and will close all 650 stores.
The womenswear retailer is owned by Ascena Retail Group. Ascena also owns a number of other chains that will remain open, including Lane Bryant, Justice, Maurices, Ann Taylor, Loft, Cacique and Catherines.
“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,” Steven Taylor, Dressbarn’s chief financial officer, said in a written statement.
The struggling chain had just rolled out a new logo and marketing materials last month in hopes of luring more shoppers.
“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,” Taylor said. “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.”
Dressbarn is the latest in a long list of retailers calling it quits in recent months, including Payless ShoeSource. Others, such as Fred’s, CVS and Party City, are closing certain underperforming locations.