(WAND) - Dressbarn is closing all of its stores, according to company leadership.
All 650 stores will close, but an exact date for the closure is unknown at this time. The company has about 6,800 employees.
There are Dressbarn stores in Champaign, Normal and Tuscola. The state has 27 Dressbarn stores in total.
Dressbarn is owned by Ascenta Retail Group Inc. Chief Financial Officer Steven Taylor told NBC Boston that Dressbarn’s numbers have not been at “an acceptable level of profitability in today’s retail environment”.
Ascenta’s shares rose by 2.6 percent after the Dressbarn news came Monday in extended trading, reaching $1.17. The company’s shares are down by over 50 percent at this point in 2019.