Dressbarn is close to the end of its winding down process.
In May, Dressbarn parent company Ascena Retail Group said it would shutter the ailing chain. The company has since closed 106 locations of the 650 stores in operation at the time.
On Wednesday, Dressbarn chief financial officer Steven Taylor said the final stage of its planned wind down will start on Friday at its 544 brick-and-mortar stores when it begins going-out-of-business sales. Gordon Brothers, a retail advisory firm and inventory liquidation specialist, has been enlisted to help with the store closing process. Dressbarn plans to offer 20 percent to 40 percent off original prices on all merchandise, including new fall and winter apparel and accessories.
As part of the shutdown, Dressbarn has also sold intellectual property assets, including its name and e-commerce business, to a subsidiary of Retail Ecommerce Ventures LLC, and that transition is currently in progress.
Tai Lopen, co-owner of Retail Ecommerce Ventures, said, “We believe the future of Dressbarn is bright and we are excited to grow and expand the online presence for the brand.”
Alex Mehr, also a co-owner of Retail Ecommerce Ventures, said, “With our deep understanding and expertise in marketing and online brands, we are looking forward to taking this iconic brand to the next level.”
No other details about the future online business for Dressbarn were provided.
The decision to close Dressbarn came amid Ascena’s financial struggles. After selling a majority stake in Maurices, the company is said to be looking at options for its plus-size operation, which includes the Lane Bryant nameplate.