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VOL. 132 | NO. 81 | Monday, April 24, 2017

Bebe Expects to Close All its Stores by the End of May

The Associated Press

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NEW YORK (AP) – Clothing chain Bebe says it expects to close all its stores by the end of May, making it the latest retail casualty of the migration to online shopping.

The Brisbane, California-based chain had said earlier this month it would close 21 stores and "explore options" for the remaining locations. In a regulatory filing, it said it expects to recognize an impairment charge of about $20 million as a result of the closing of all its stores. The chain had recently said it had more than 130 retail stores and more than 30 outlet stores in the United States, Canada and Puerto Rico. It also offers branded products elsewhere and operates bebe.com.

Others chains that have shuttered all their stores or retrenched include Abercrombie & Fitch, BCBG, The Limited and Wet Seal. Department store operators have also suffered, with Macy's and J.C. Penney among those that are trimming locations.

Bebe Stores Inc. started in 1976 and describes itself as staying true to its "assertive, provocative origins." The company says its name is inspired by Shakespeare's words, "To be, or not to be."

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
FORECLOSURE NOTICES 10 70 1,928
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762
BUSINESS LICENSES 23 184 4,083
UTILITY CONNECTIONS 22 166 4,847
MARRIAGE LICENSES 16 81 2,625

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