Dressbarn, which still has 544 stores open across the United States, said on Wednesday that it is kicking off store-closing sales this week.
The company that owns the chain, Ascena Retail Group, said the closures will take place no later than Dec. 26.
According to a news release, Steven Taylor, Dressbarn chief financial officer, stated, “As part of our planned wind down, which has received overwhelming support from our landlord and vendor community, we are starting store closing sales at the balance of our 544 brick and mortar retail stores on Friday, November 1, 2019.”
He added, “We would like to thank our loyal customers for their commitment to our brand over the years and hope they take this opportunity to purchase their favorite styles at significant values. We are grateful to our store teams for their unwavering commitment to providing our customers with the same great shopping experience they’ve come to expect at our stores.”
Some stores have already closed after the firm announced the move to close all of its locations in May.
The store liquidation is being handled by Gordon Brothers. Store gift cards and merchandise credits will be honored.
“Customers can take advantage of discounts on all merchandise, including new fall and winter apparel and accessories, from 20 percent to 40 percent off original prices,” the chain said in the release.
A list of remaining stores can be accessed on the company’s website.
The retailer also said it sold its intellectual property assets of Dressbarn and “has begun the process of transitioning its ecommerce business.”
Earlier this year when announcing the closing of stores, Gary Muto, CEO of Dressbarn’s parent company Ascena Retail Group, said in a statement to CNN: “It has been our pleasure to serve you, making it all the more difficult to let you know that the decision has been made to begin winding down the Dressbarn business.”
The closure of Dressbarn, which opened its first store in Stamford, Connecticut, in 1962, came after Bloomberg News reported Ascena suffered more than $1 billion in losses in the past four years.
Steven Taylor, Dressbarn chief financial officer said in a statement at the time: “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.”
The Dressbarn closures come amid a particularly difficult period for brick-and-mortar retailers across the United States.
Reports have said that this year, Shopko, Payless, Gymboree, Forever 21, Charlotte Russe, and other stores have all filed for bankruptcy and announced store closures.