Another national retailer’s demise is having a ripple effect on local shopping centers.
Women’s clothing chain Dressbarn is closing all 650 of its stores nationwide, including four in the Richmond region.
Its local outposts are located at The Creeks at Virginia Centre in Henrico, at Commonwealth Center and Westchester Commons in Midlothian, and at 723 Southpark Blvd. in Colonial Heights.
Dressbarn’s parent company, publicly traded Ascena Retail Group, announced its plans to shutter the Dressbarn brand on Monday. Ascena owns seven other women’s retail brands, including Ann Taylor, LOFT, Justice and Lane Bryant. The company said in a statement that it is “focusing resources on (Ascena’s) most profitable brands.”
Dressbarn was founded in the early 1960s and is based in Mahwah, New Jersey.
Dressbarn CFO Steven Taylor 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.”
Ascena and Dressbarn did not announce when the stores will be closing.
Dressbarn is the third national womenswear chain this year to announce a mass closure that includes reducing its Richmond presence.
Charlotte Russe announced it’ll be closing all of its 400 stores nationally – including three locally – as part of its bankruptcy. And Victoria’s Secret quietly closed both its Stony Point Fashion Park and Virginia Center Commons stores.