The Company announced that it has sold the intellectual property assets of Dressbarn and has begun the process of transitioning its e-commerce business.

“We are starting store closing sales at the balance of our 544 brick and mortar retail stores on Friday, November 1, 2019,” said Steven Taylor, Chief Financial Officer of Dressbarn.

Existing gift cards and merchandise credits will be honored throughout the sale, which will last until stores close (expected no later than December 26, 2019) or while merchandise supplies last, according to a press release.

“We believe the future of Dressbarn is bright and we are excited to grow and expand the online presence for the brand,” said Tai Lopez, co-owner of Retail Ecommerce Ventures.

A new platform and look of is expected to be launched on or about January 1, 2020. Gift cards, merchandise credits and other previously issued offers from Dressbarn will not be valid after a subsidiary of Retail Ecommerce Ventures LLC begins operation of on or after January 1, 2020.