Dressbarn, the women’s clothing chain that’s been around for about 60 years, is closing all 650 of its stores.
Dressbarn has a location in Crystal Lake, 5460 Northwest Highway, and in McHenry, 2346 N. Richmond Road. It’s not clear when the stores will officially close. Dressbarn employs about 6,800 people.
Crystal Lake Community Development Director Michelle Rentzsch said Five Below, which is located in the same shopping center as Dressbarn, is considering moving into Dressbarn’s space. The transition is expected to be discussed at the June 5 Planning and Zoning Commission meeting, she said.
Plans for closing individual Dressbarn locations, including information about store closing sales, will be shared during the wind-down process. Dressbarn has retained A&G Realty Partners to assist on real estate-related matters, Dressbarn officials said in a news release.
Store employees will be notified and provided “transition support” once decisions are made regarding specific store closures, according to the release.
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.”
Its owner, Ascena Retail Group Inc., said it wants to focus on its more profitable brands. Ascena also owns other clothing stores.
After the news was announced Monday, shares of Ascena Retail Group Inc. rose 2.6% to $1.17 in extended trading. Shares of the Mahwah, New Jersey-based company are down more than 50% so far this year.
• Northwest Herald reporter Brittany Keeperman contributed to this report.