Dressbarn closing all 650 stores, ceasing operations

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"It has been our pleasure to serve you, making it all the more hard to let you know that the decision has been made to begin winding down the Dressbarn business", Gary Muto, CEO ofDressbarn's parent company Ascena Retail Group, said in a statement.

"It has been our pleasure to serve you, making it all the more hard to let you know that the decision has been made to begin winding down the Dressbarn business", Gary Muto, CEO of Dressbarn's parent company Ascena Retail Group, said in a statement.

There is no set timeline for when the stores will close. "Dressbarn parent Ascena also owns women's apparel brands Ann Taylor and Loft, among others", reports the Wall Street Journal. There are no current changes to the return, refund or gift card policies.

The women's clothing store has 20 locations in OH, including Akron, Avon, Brooklyn, Mayfield Heights, Medina, North Canton, North Olmsted, Parma and Solon.

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After the news was announced Monday, shares of Ascena Retail Group Inc. rose 2.6% to $1.17 in extended trading, according to the Associated Press.

Dressbarn, the women's clothing chain founded in the 1960s as a place where women in need of career-wear "could find fashion at a value", is closing all its stores.

The announcement to close Dressbarn locations follows Ascena's recently completed sale of its Maurices brand. Ascena previously announced in 2017 that it would be closing up to 667 stores through 2019.

Closing sales are expected to take place in the near future, but a schedule and any plans beyond that have not been made known.

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