Ascena Retail Group Inc. will start winding down its Dressbarn clothing chain, the latest upheaval in a continued retail shakeout.
After trying to find a new owner, Ascena said Monday that it’s preparing to close the approximately 650-store chain. No timeline was given, and stores will remain open until the wind-down commences.
Ascena posted more than $1 billion of losses in the past four years, according to data compiled by Bloomberg.
