Dressbarn to close 53 stores in August, saying the wind down of the business is ‘on target’
Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target amid chatter the business would be forced to file for bankruptcy to break leases. It also released the locations of 53 additional stores slated to shut by the end of August.
Ascena announced in May that it planned to wind down Dressbarn and ultimately shut all 650 or so of the women’s clothing shops in order to focus on its more profitable brands, like Ann Taylor and Loft.
There has since been some speculation that Dressbarn as a standalone unit would ultimately file for bankruptcy if its landlords didn’t agree to relieve the brand of its lease obligations, as it started shutting hundreds of stores within malls and shopping centers across the country.
But the company on Thursday said everything is going as planned and that all stores are expected to be dark by the end of the year.
“We have received overwhelming landlord support for our plan, which will allow us to implement our wind down in a manner that provides the best recovery for our landlords. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement.
Dressbarn, which has been around for more than five decades, has struggled to grow in apparel retailing as more women steer toward fast-fashion retailers such as H&M and Zara, off-price chains such as T.J. Maxx and Ross Stores, and even Target. Amazon also continues to take a larger share of the apparel market online.
Dressbarn at the end of June announced the first round of locations, a total of 28 stores, set to close this summer, kicking off the winding-down process.
Ascena shares are down more than 75% this year and trade below $ 1.
Here’s a complete list of the Dressbarn stores set to close in August, according to the company’s website:
Valley Bend at Jones Farm – 2750 CARL T JONES DRIVE HUNTSVILLE AL
Slatten Ranch – 5749 LONE TREE WAY ANTIOCH CA
Imperial Center – East 2500 EAST IMPERIAL HIGHWAY BREA CA
Hamilton Plaza Shopping Center – 1650 SOUTH BASCOM AVENUE CAMPBELL CA
Elk Grove Commons – 9630 BRUCEVILLE ROAD ELK GROVE CA
The Marketplace at River Park – 7560 N. BLACKSTONE AVENUE FRESNO CA
Ladera Center – 5373 W CENTINELA AVENUE LADERA CA
Citrus Plaza – 27430 W LUGONIA AVENUE REDLANDS CA
Shelton Square – 876 BRIDGEPORT AVENUE SHELTON CT
Corbins Corner Plaza – 1473 NEW BRITAIN AVENUE WEST HARTFORD CT
Eden Square Shopping Ctr – 408 EDEN CIRCLE BEAR DE
Shoppes at Paradise Key – 4429 COMMONS DRIVE EAST DESTIN FL
The Loop – 3204 NO JOHN YOUNG PARKWAY KISSIMMEE FL
Lake Buena Vista Factory – 15629 STATE ROAD 535 LAKE BUENA VISTA FL
Pembroke Commons – S.C. 450 NO UNIVERSITY DRIVE PEMBROKE PINES FL
Crossroad Commons – 1419 FLAMMANG ROAD WATERLOO IA
Winston Plaza Shopping Ctr – 1036 W. NORTH AVENUE MELROSE PARK IL
Clearwater Springs – 5025 E 82ND STREET INDIANAPOLIS IN
Valparaiso Walk – 91 SILHAVY ROAD VALPARAISO IN
Chisholm Trail Mall – 601 SE 36 STREET NEWTON KS
Olathe Pointe – 14665 WEST 119TH STREET OLATHE KS
River Marketplace – 4401 AMBASSADOR CAFFERY PARKWAY LAFAYETTE LA
Lake Charles Power Center – 3431 DEREK DRIVE LAKE CHARLES LA
University Place – 7044 YOUREE DRIVE SHREVEPORT LA
Highland Commons – 212 COOLIDGE STREET BERLIN MA
The Loop – 90 PLEASANT VALLEY STREET METHUEN MA
Northborough Crossing – 9110 SHOPS WAY, E-110 NORTHBOROUGH MA
Redstone Plaza – 99 MAIN STREET STONEHAM MA
Festival at Bel Air – 5 BEL AIR SOUTH PARKWAY BELAIR MD
Woodyard Crossing – 8775-A BRANCH AVENUE CLINTON MD
Greenway Shopping Center – 7525 GREENBELT ROAD GREENBELT MD
Largo Town Center – 908 LARGO CENTER DRIVE LANDOVER MD
Laurel Shopping Center – 332 DOMER AVENUE LAUREL MD
Fairlane Green Shopping Center – 3240 FAIRLANE DRIVE ALLEN PARK MI
Town Center – 4830 WILSON AVENUE GRANDVILLE MI
Novi Town Center – 43193 CRESENT BOULEVARD NOVI MI
Pavilions at Hartman Hertiage – 20050 E JACKSON DRIVE INDEPENDENCE
The Outlets of Mississippi – 200 BASS PRO DRIVE PEARL MS
Westgate Commons – 1500 EAST 13TH AVENUE WEST FARGO ND
Clark Commons Shopping Center – 1255 RARITAN ROAD CLARK NJ
The Summit Reno – 13921 S VIRGINIA STREET RENO NV
McKinley Milestrip Center – 3540 MCKINLEY PARKWAY BUFFALO NY
Dressbarn New York – 1180 AVE OF THE AMERICAS NEW YORK NY
Post Rd Plaza – 853 PELHAM PARKWAY PELHAM NY
Champlain Centre – 60 SMITHFIELD BOULEVARD PLATTSBURGH NY
The Mall at Greece Ridge – 468 GREECE RIDGE CENTER DRIVE ROCHESTER NY
Crossroads Plaza – 481 TARRYTOWN ROAD WHITE PLAINS NY
Pleasant Valley Shop Center – 1183 PLEASANT VALLEY ROAD PARMA OH
Cascade Station – 9963 NE CASCADES PARKWAY PORTLAND OR
Silver Spring Commons SC – 6520 CARLISLE PIKE MECHANICSBURG PA
Lincoln Mall – 622 GEORGE WASHINGTON HIGHWAY LINCOLN RI
Seven Corners Center – 6308 SEVEN CORNERS CENTER FALL CHURCH VA