Apparel retailers Dress Barn, Tween Brands merging

NEW ALBANY, Ohio -- Suffern, N.Y.-based Dress Barn also will pay off the bank debt of Tween Brands, the New Albany, Ohio, company behind the Justice stores aimed at girls 7-14.

Dress Barn CEO David Jaffe said Thursday the Justice brand will diversify and complement his company's existing business.

Officials say Dress Barn will allow Tween Brands to operate as a separate subsidiary with its current management team remaining in place.

Tween Brands has posted losses in recent quarters due to a drop in sales amid the recession.

Dress Barn currently operates 841 Dress Barn stores and 716 stores under the "Maurice's" name.