In the latest blow to brick-and-mortar retailing, Dressbarn says it is going out of business and closing all 650 stores nationwide. "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,” Dressbarn chief financial officer Steven Taylor said in a statement, announcing that the women's apparel chain plans to begin a "wind down of its retail operations." The chain, which has been around for more than 50 years, said stores and the Dressbarn website will continue operating normally for now, and employees will be notified when store closing dates have been determined, CNBC reports.
"During the wind-down process, we will continue to provide our customers with the same great experience both in-store and online, offering them even better deals and value," Taylor said. Dressbarn is owned by Ascena Retail Group, which also owns chains including Ann Taylor, Loft, and Lane Bryant. USA Today reports that with the approximately 650 Dressbarn locations closing, there have now been more than 7,000 store closures announced in the US so far this year—more than the 5,864 closings in all of 2018, but still below the record 8,139 store closings in 2017. (The closures include what could be America's biggest-ever retail liquidation.)