Store-closing sales start today at more than 500 Dressbarn locations nationwide, as the company winds down its brick-and-mortar retail business, but the brand will live on online.
Dress Barn Inc. earlier this week announced that it has sold the intellectual property assets of Dressbarn and will transition its e-commerce business to a subsidiary of Retail Ecommerce Ventures LLC.
A new dressbarn.com platform has a tentative launch date of January 1.
“We believe the future of Dressbarn is bright and we are excited to grow and expand the online presence for the brand,” said Tai Lopez, co-owner of Retail Ecommerce Ventures, in a statement.
The current e-commerce site will remain open for business during the store-closing process and will accept gift cards and merchandise credits through December 31 or while merchandise supplies last.
The 544 Dressbarn stores that are now open are expected to close no later than December 26, the company said. Existing gift cards and merchandise credits will be honored throughout the sale. Store fixtures, furnishings and equipment in the stores will also be for sale.
Management consultancy services firm Gordon Brothers will assist in the store-closing process.
Dress Barn Inc.’s parent company, New Jersey-based Ascena Retail Group Inc. (Nasdaq: ASNA), announced in May that it would end its Dressbarn retail operations, closing all of its approximately 650 stores.
The company said its 6,800 employees would be notified about specific store closings and offered transition assistance.
Ascena sold its Maurices brand earlier this year to an affiliate of British private equity firm OpCapita in a deal worth about $300 million.
The company’s other brands include Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique and Justice.
