Dressbarn has announced that the final wind-down of its stores has begun with liquidation sales starting on Friday. Under parent company Ascena Retail Group (ASNA), Dressbarn previously said that it would close all of its stores before the year was over.

"As part of our planned wind down, which has received overwhelming support from our landlord and vendor community, we are starting store closing sales at the balance of our 544 brick and mortar retail stores on Friday, November 1, 2019," Steven Taylor, chief financial officer of Dressbarn said.

The retailer said that its merchandise will be 20 to 40 percent off the original prices with the best selection of apparel offered early in the liquidation sale. The company is also liquidating store fixtures, furnishings, and equipment during the sale.

All gift cards and merchandise credits will be honored by Dressbarn until all stores close, which is projected for no later than Dec. 26, or while merchandise lasts, the company said.

A full list of open stores can be viewed here.

The Dressbarn website will also remain open during the store closing process and will accept gift cards and merchandise credits through Dec. 31 or while merchandise supplies are available.

Dressbarn has partnered with Gordon Brothers for the stores' closings process.

Dressbarn also said it has begun the transition process of its e-commerce business to a subsidiary of Retail Ecommerce Ventures LLC, which will relaunch the website around Jan. 1, 2020. At this time, all gift cards and merchandise credits will no longer be valid from Dressbarn.

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

Shares of Ascena Retail Group were down 10.17 percent as of 12:03 p.m. ET on Thursday.

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