Bebe announces all stores will be closed by the end of May
Fashion retailer bebe stores, inc. Friday announced it will close all of its stores by the end of May.
The women's fashion brand has notched about $200 million in loses over the last four years.
According to Allure, "the brand perhaps most well known for its 'going-out' tops, mini skirts, and general after-hours wear is facing the reality of four years of steady losses. It has been struggling to keep its head above water with the popularization of more trend-focused fast-fashion brands like Zara, H&M, and Mango."
The announcement Friday cancels a planned move to sell its 170 properties to avoid bankruptcy and firings, according to Bloomberg.
Bebe now joins a growing list of retailers shuttering brick-and-mortar locations in the face of increasing online competition.