MIAMI (CBSMiami) — Another retailer bites the dust. Dressbarn says it is going out of business, and will be closing all of its 650 stores across the nation, including south Florida.
The parent company of the chain, Ascena Retail Group, did not give a timeline but said its other more profitable stores such as Ann Taylor and Loft will remain open.
The chain employs about 6,800 workers. The company’s chief financial officer, Steven Taylor, said Dressbarn has not been operating at an “acceptable level of profitability in today’s retail environment.”
Dressbarn has been in business since 1962 and has seven South Florida locations stretching from Florida City to Boca Raton.
Dressbarn joins a wave of failed retailers this year including Charlotte Russe and Payless.