Dressbarn’s Wind Down Plan on Target
ASCENA RETAIL GROUP (ASNA)
Last ascena retail group earnings: 6/10 04:06 pm
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Source: GlobeNewswire
MAHWAH, N.J., July 18, 2019 (GLOBE NEWSWIRE) -- The Dress Barn, Inc. (the “Company” or “Dressbarn”) today announced that its wind down continues to progress according to plan and that all retail stores are expected to close by the end of 2019. “We have received overwhelming landlord support for our plan, which will allow us to implement our wind down in a manner that provides the best recovery for our landlords. Further, we are current, and expect to remain so, with our vendors and suppliers,” said Steven Taylor, Chief Financial Officer of Dressbarn. The Company has taken the following steps to further advance the wind down process: Started planning the closing cadence for all stores based on agreements reached with landlords;Engaged Gordon Brothers Retail Partners to assist with the eventual closure of all stores; andContinues to ensure the receipt of fresh inventory for the balance of the process through close collaboration with its vendor and supplier network. Intellectual
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