Dressbarn will close 53 stores in August

Ascena Retail Group said Thursday that the closure of its Dressbarn business was on track, with stores in 53 stores scheduled to close by the end of August.

The announcement was made amid a discussion that would require the company to file for bankruptcy to break leases.

Ascena announced in May its intention to close Dressbarn and close some 650 women's clothing stores to focus on its most profitable brands, such as Ann Taylor and Loft.

Since then, some rumors have suggested that Dressbarn, as an autonomous entity, would declare bankruptcy if its owners did not agree to release the mark of its lease obligations, as it began to close hundreds of stores in shopping centers across the country. Retail owners have already been hit by a mbadive wave of store closures this year. Any new ad therefore only adds to a backlog of empty spaces.

But the company said Thursday that everything was going as planned and that all stores should be dark by the end of the year.

"We have received overwhelming support from homeowners for our plan, which will allow us to implement our incremental expenditure reduction to ensure the best possible recovery for our homeowners. stay with our vendors and suppliers, "Steven Taylor, Dressbarn's CFO, said in a statement.

In a press release, the company announced that it had started working with Gordon Brothers Retail Partners to help close stores and Hilco Streambank to search buyers for Dressbarn's intellectual property. He also said that he always received a "new inventory", but encouraged customers to "shop early for the best selection and use the exceptional gift cards".

Malfitano Partners manages the global liquidation, according to a familiar person.

Dressbarn, which has been in existence for more than five decades, is struggling to grow in retail clothing, as more and more women are turning to fast fashion retailers such as H & M and Zara , off-price channels such as TJ Maxx and Ross Stores, and even Target. Amazon also continues to take a larger share of the online apparel market.

At the end of June, Dressbarn announced the first series of locations, a total of 28 stores, which is expected to close this summer, ending the gradual closure process.

Ascena shares are down more than 75% this year and are trading at less than $ 1.

Here is a complete list of Dressbarn stores that are scheduled to close in August, according to the company's website:

• Valley Bend at the Jones Farm – 2750 CARL T JONES DRIVE HUNTSVILLE AL
• Slatten Ranch – 5749 LONE TREE WAY ANTIOCH
• Imperial Center – East 2500 HIGH EAST HIGHWAY IMPERIAL BREA CA
• Hamilton Plaza Shopping Center – 1650 SOUTH BASCOM AVENUE CAMPBELL CA
• Elk Grove Commons – 9630 ROUTE OF BRUCEVILLE ELK GROVE CA
• The Market at the River Park – 7560 N. AVENUE BLACKSTONE 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 AVENUE NEW BRITTANY WEST HARTFORD CT
• Eden Square Shopping Center – 408 EDEN CIRCLE BEAR DE
• Shoppes at Paradise Key – 4429 COMMON DRIVE EAST DESTIN FL
• The loop – 3204 NO. JOHN YOUNG PARKWAY KISSIMMEE FL
• Buena Vista Lake Plant – 15629 STATE ROAD 535 LAKE BUENA VISTA FL
• Pembroke Commons – 450 S.C., UNIVERSITY DRIVE PEMBROKE PINES FL
• Crossroad Commons – 1419 FLAMMANG ROAD WATERLOO IA
• Winston Plaza Shopping Center – 1036 W. NORTH AVENUE MELROSE PARK IL
• Clearwater Springs – 5025 E 82ND STREET INDIANAPOLIS TO
• Valparaiso Walk – 91 SILHAVY ROAD VALPARAISO IN
• Chisholm Trail Shopping Center – 601 SE 36 STREET NEWTON KS
• Olathe Pointe – 14665 WEST 119E OLATHE STREET KS
• River Marketplace – 4401 AMBASSADOR CAFFERY PARKWAY LAFAYETTE LA
• Lake Charles Power Center – 3431 DEREK DRIVE LAKE CHARLES LA
• University Place – 7044 Your Driveee 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
• Bel Air Festival – 5 BEL AIR SOUTH PARKWAY BELAIR ®
• Crossing the Woodyard – 8775-A BRANCH AVENUE CLINTON MD
• Greenway Mall – 7525 GREENBELT GREENBELT ROAD TM
• Downtown Largo – 908 LANDGOVER MD FROM LARGO CENTER DRIVE
• Laurel Shopping Center – 332 DOMER AVENUE LAUREL MD
• Fairlane Green Shopping Center – 3240 FAIRLANE DRIVE ALLEN PARK MI
• Downtown – 4830 WILSON AVENUE GRANDVILLE MI
• Novi Town Center – 43193 BOULEVARD CRESENT NOVI MI
• Pavilions at Hartman Hertiage – 20050 E INDEPENDENCE OF JACKSON DRIVE
• Mississippi outlets – 200 BASS PRO DRIVE PEARL MS
• Westgate Commons – 1500 EST 13TH WEST AVENUE FARGO ND
• Clark Commons Shopping Center – 1255 RARITAN ROAD CLARK NJ
• The Summit Reno – 13921 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 Center – 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 MECHANICALBOURG PA
• Lincoln Mall – 622 Highway GEORGE WASHINGTON, LINCOLN RI
• Seven Corners Center – 6308 SEVEN CORNERS CENTER AUTUMN CHURCH VA