Dressbarn is going out of business and plans to close all of its approximately 650 stores, the women’s retail chain said Monday.

“For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers,” the retailer’s Chief Financial Officer Steven Taylor said in a statement. “This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today’s retail environment.”

Dressbarn has about 6,800 employees, according to the company. An exact closing date for the stores was not immediately announced. For now, the stores would remain open and customers can continue to shop online at Dressbarn.com, according to the announcement.

“We will work to assist our associates through the transition and maintain existing relationships with our vendors, suppliers, and other key stakeholders through this process,” Taylor said.

Dressbarn is owned by Mahwah-based Ascena Retail Group, which is the parent of brands including Ann Taylor, Loft and Lane Bryant. Ascena said in 2017 it planned to close hundreds of stores as it contended with a struggling brick and mortar retail market.

Ascena Retail Group broke ground on a 195,000 square-foot office on MacArthur Boulevard in Mahwah in 2013 after receiving a $32.4 million Grow New Jersey tax credit to move from Suffern, New York.

A company spokesman did not immediately respond to an email Monday night seeking more information.

Noah Cohen may be reached at ncohen@njadvancemedia.com. Follow him on Twitter @noahyc. Find NJ.com on Facebook.

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