Ascena Retail Group's Dressbarn brand will commence its liquidation process this week. The company announced in May that it decided to wind down the brand's operations to focus on other, more profitable labels.
There are currently 544 Dressbarn stores in operation across the U.S. Store-closing sales will begin on Friday, November 1, with the plan to have all stores closed by December 26 of this year. Ascena has brought on advisory and investment firm Gordon Brothers to aid in the liquidation process.
"Given Dressbarn’s loyal customer base and the popularity of its merchandise, we encourage customers to shop early for the best selection,” a spokesperson for Gordon Brothers explained in a statement.
Despite the store closures, this is not the end of Dressbarn. Ascena has sold the brand's intellectual property assets to Retail Ecommerce Ventures LLC, who plans to relaunch Dressbarn with e-commerce in the new year.
The Dressbarn e-commerce site will continue to operate under Ascena's ownership until December 31. Retail Ecommerce Ventures will relaunch the website either on or around January 1, 2020. After this point, any previously issued gift cards or credit will no longer be valid.
“We believe the future of Dressbarn is bright and we are excited to grow and expand the online presence for the brand,” stated Tai Lopez, co-owner of Retail Ecommerce Ventures.
Lopez's co-owner, Alex Mehr added, “With our deep understanding and expertise in marketing and online brands, we are looking forward to taking this iconic brand to the next level."