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Ascena Retail Group Announces Closure of All Dressbarn Businesses: NPR



The dressbars in Nanuet, New York, is one of nearly 650 stores that are expected to close. A final shutdown date was not announced.

Dave Kotinsky / Getty Images


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Dave Kotinsky / Getty Images

The dressbars in Nanuet, New York, is one of nearly 650 stores that are expected to close. A final shutdown date was not announced.

Dave Kotinsky / Getty Images

Dressbarn, the womenswear chain founded in the 1960s, where women who depend on work clothes, find "fashion at a bargain price" closes all their shops.

The Ascena Retail Group announced the closing of approximately 650 stores on late Monday said the "downsizing" would help the company focus on its more profitable brands.

"This decision was difficult but necessary as the dressbar chain is not operating at an acceptable level of profitability in today's retail environment," said Steven Taylor, the company's chief financial officer, in a statement.

In a separate statement, the company mentioned the move as "another important step to advance Ascena's ongoing transformation."

The New Jersey based women's trader also owns Ann Taylor, LOFT, Lane Bryant, Lou and Gray, Catherine, Cacique and Justice. At the beginning of this month, the company sold its Maurice brand.

The closures might be a hit for some shopping centers across the country The vacancy rates are in increased in recent years after anchor shops like Sears, Kmart and JC Penney closed. In 2018, according to the latest figures from real estate research company Reis, around 9% of retail space in regional shopping centers was empty.

Five major stores have disappeared since the beginning of 2019, including Sears, Charlotte Russe, Gymboree, Payless ShoeSource and Helzberg Diamonds, at the Westmoreland Mall in Hempfield, Pennsylvania, where a dressbar is being closed. The room, previously used by the Bon Ton department store, is currently being converted into a casino.

A final shutdown date for dressbars has not been announced. Business will remain open without changes to the Return, Refund or Gift Card Policy. Around 6,800 employees work in the chain.


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