LOUISVILLE, Ky. (WDRB) -- Women’s fashion retailer Dressbarn will begin liquidation sales in its 544 stores Friday, including the one at Stonybrook South Shopping Center on Hurstbourne Parkway.
Customers can expect new fall and winter apparel and accessories at 20% to 40% off original prices, said Dressbarn, which announced in a news release that all stores will close no later than Dec. 26.
When the company announced the closings in May, CFO Steven Taylor said the chain, "has not been operating at an acceptable level of profitability in today’s retail environment."
Dressbarn’s New-Jersey-based parent company, Ascena, said Wednesday it has, "sold the intellectual property assets of Dressbarn and has begun the process of transitioning its ecommerce business to a subsidiary of Retail Ecommerce Ventures LLC."
Tai Lopez, co-owner of Retail Ecommerce Ventures, said in the release that the company believes in the future of Dressbarn and hopes to expand its online presence.
Ascena, which also owns Ann Taylor and Lane Bryant, reported net sales of $1.5 billion, down 4.3% from a year earlier, on Oct. 3. Dressbarn’s sales declined 5.2%.
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