Ascena Retail Group Inc., the company behind Ann Taylor and Loft stores, has hired liquidation firm Gordon Brothers to help conduct going-out-of-business sales at the Dressbarn chain, the Wall Street Journal reported. In May, Ascena said that it would shut down all 650 Dressbarn stores and had hired real estate advisory firm A&G Realty Partners to help with the closures. Ascena is in the early stages of shutting down Dressbarn, a process the company expects to complete by year’s end, Chief Executive Gary Muto said during the company’s quarterly earnings call on Monday. In May, Ascena sold Maurices, which sells moderately priced women’s apparel, to private-equity firm OpCapita. With the sale of Maurices and the shutdown of Dressbarn, Ascena will have exited the value fashion segment of its business.
