Can retail be rescued? Why so many U.S. stores are closing
Dressbarn has announced it will close all of its 650 stores nationwide, including two in the metro-east in Belleville and Fairview Heights. The closing date has not yet been set.
The Belleville location is in the Belleville Crossing shopping center at the intersection of Illinois 15 and Frank Scott Parkway and the Fairview Heights location is in the Crossroad Shopping Center at 10850 Lincoln Trail.
Dressbarn called the closures a “wind down” of its “value fashion” brand.
Steven Taylor, chief financial officer of Dressbarn, said in a statement, “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.”
Mahwah, N.J.-based Ascena Retail Group Inc., the parent company of Dressbarn, also operates Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique and Justice stores.
Dressbarn was founded in 1962 in Stamford, Conn.