Bebe Is Closing All 175 of Its Stores

Bebe is closing all its stores, the latest casualty in retail

The company, which had 180 stores at the end of 2016, also plans to liquidate all merchandise and fixtures within the stores, it said in a regulatory filing.

The specialty apparel retailer operates 134 retail stores, 34 outlet stores and its website, according to a March press release. The company said it was not clear yet how large a loss the decision would trigger.

Bebe is closing all its stores, the latest brick-and-mortar retailer to get dumped by customers who would rather shop with their phones than their feet. In the most recent quarter, revenue was $101.9 million, a drop of 16.8% from $122.4 million reported in the same period the year before.

In a filing with the Securities and Exchange Commission on Friday, Brisbane, California-based Bebe said it expects to incur an impairment charge of about $20 million as a result of the store closures.

More news: The USS Carl Vinson is still nowhere near North Korea

Bebe will pay the consultants $550,000 and an additional fee of 15 percent of the gross proceeds generated from the sale of the furnishings, trade fixtures, equipment and improvements to real property.

Bebe was founded in 1976.

The company's sales for the first six months of its 2017 fiscal year, a period that ended December 31, totaled $189.2 million, down 13.5% from a year earlier. Its name was drawn from the Shakespeare phrase from Hamlet, "To be or not to be".

Shares of Bebe hit a 14-month low of $3.02 in trading Friday. The store used to have a location at the Riverchase Galleria in Hoover which closed years ago.

Related News:

  • Ronnie O'Sullivan makes winning start to World Championships

    Across the arena, Stuart Bingham built a 5-4 lead after his opening session against Peter Ebdon in a battle of former world champions.

    Iran 'not living up to the spirit' of nuclear deal

    Earlier in the week, James Mattis, the Defense Secretary, spoke in Saudi Arabia about the crisis in Yemen and Iran's role. In other areas, however, the Trump administration has appeared poised to take a far more aggressive line against Tehran .

    Trump calls Erdogan after referendum win

    Erdogan rejected accusations that the new powers were aimed at personal gain rather than improving Turkey's political system. The head of Germany's main industrial group says the referendum in Turkey could hurt economic ties with European countries.
  • Boris Johnson to make statement on crises in North Korea and Syria

    Boris Johnson to make statement on crises in North Korea and Syria

    Asked by host Liz Wheeler whether the US was on the verge of any armed conflict with the North Koreans, Kredo said no. The officials weren't authorized to speak publicly on the results of the policy review and requested anonymity.
    Gerrard: West Ham players, not Bilic, must take blame

    Gerrard: West Ham players, not Bilic, must take blame

    Predict the score for this match and the rest of this round's Premier League fixtures in our Predictor game. You try to get him out of these positions he's really good in.

    Almost 500000 Civilians Displaced in Six Months of Mosul Campaign

    The battle has been concentrated there after the extremists were driven out of the eastern half of Iraq's second largest city. As many as 500,000 civilians could remain in parts of western Mosul under Daesh jihadist group control, OCHA estimates.
  • Raptors vs. Bucks Game 2

    Remember the Clippers have been down this road before and it's time for them to advance to the western conference finals. And as Hayward pointed out, the Clippers will need to be better after the energy of the opening tip-off fades.

    Oil spill reported on North Slope, volume unknown

    Hilcorp Alaska has discovered several oil and natural-gas leaks in pipelines, but ice made had it impossible to fix the leaks. BP and other groups were still working on a response plan for the leak on Sunday, according to the report .
    Rainy Friday south of I-70, with cooler conditions

    Rainy Friday south of I-70, with cooler conditions

    Friday and Saturday could bring some minor flooding concerns to the area, with up to three inches of rain in the weekend forecast. Temperatures are expected to reach highs in the mid 60s to around 70 degrees inland with highs in the lower 60s along the coast.
  • Four tie for Masters lead

    Four tie for Masters lead

    With a birdie at No. 15, Jordan Spieth is 5 under par (for the round and the tournament), one shot behind leader Charley Hoffman. He had a 4-shot lead, stretched it to five early Friday, and could have put even more distance between himself and the field.
    Arkansas poised to carry out first execution since 2005

    Arkansas poised to carry out first execution since 2005

    The court hasn't explained its reasoning in any of its one-page stay-of-execution orders for the three inmates. Supreme Court rules on a pending case involving inmates' access to independent mental health experts.

    21st Century Fox Confirms Law Firm's Bill O'Reilly Investigation

    Fox News has said that Walsh was dropped from "The O'Reilly Factor " because the program's ratings declined when she appeared. Baldwin, still playing the Fox News host, then tried to interview a reporter.


Most liked

Cavaliers Come Back From 25-Point Halftime Deficit, Largest In NBA History
LeBron James in the second quarter on April 20 passed Kobe Bryant for third place in the NBA's all-time playoff scoring list. Irving, Love and LeBron are averaging a combined 80.5 points, 18.0 rebounds, and 16.0 assists per game in the series .

British parliament backs May's plan for June 8 snap election
However, on Tuesday she said she had a "change of heart" in order to bring unity within the political corridors of Britain. As we now know, Theresa May confirmed that there will be an election on June 8 following a vote in the House of Commons.

North Korea threatens to 'ravage' US if Trump orders airstrike
An official from South Korea's Defense Ministry couldn't immediately confirm whether the rocket was a new ICBM. Navy fired 59 Tomahawk missiles at a Syrian airfield last week in response to a deadly gas attack.

Russell Westbrook breaks triple double record, hits buzzer-beater for win
Westbrook scored (18) or assisted (3) on the last 21 Thunder points, including scoring the last 15 points on his own. Forty-four years ago in the 1972-73 season, Tiny Archibald scored 34.0 points per game while averaging 11.4 assists.

Trump Backs Baldwin's American-Made Construction Bill
But reviewing the " Buy America policies" does little to keep the promises Trump made to Wisconsin workers, U.S. This content is published through a licensing agreement with Acquire Media using its NewsEdge technology.

Paris police say officer and attacker shot, killed
ET) when a vehicle stopped at 102 Champs-Elysees in front of a police van, Interior Ministry spokesman Pierre Henry Brandet said. Marine Le Pen, one of the candidates and leader of France's far-right National Front, tweeted her support of the officers.

Ashmore Group plc (ASHM) Given "Hold" Rating at Peel Hunt
Now 8 brokers are covering NMC Health (LON:NMC), 8 rate it "Strong Buy", 0 "Buy", 0 "Sell", 0 "Strong Sell", while 0 "Neutral". On Tuesday analysts at HSBC reiterated Barclays PLC's (LON:BARC) shares as "Buy" in a research note issued to investors.

Japan Hopes Russia, China to Help Settle North Korea Nuclear Issue
It also stated that Pyongyang's ballistic missile launches are "illegal" and that the country has been developing nuclear weapons. China may be getting fed up with continued nuclear bluster from long-time ally North Korea and tilting toward the United States.

Juventus knock FC Barcelona out of Champions League
However, I'd suggest that Leonardo Jardim would least like to face Juventus , the best balanced team left in the tournament. Kwadwo Asamoah (N/A): Came on in the 88th minute to really help pin back the Barcelona defense.

Carrier was 3000 NM Away During North Korea Tensions
But after meeting with Chinese President Xi Jinping earlier this month, Trump concluded that "it's not so easy". As the New York Times reports , a few ships are not where the Trump White House said they were.

Samsung logs near-record profit in Q1 despite absence of heir
Samsung, which last week unveiled its new flagship smartphone, the Galaxy S8, was helped by strong sales of memory chips. LG said its January-March operating profit was $812.62 million and the highest since the second quarter of 2009.

China prefers peaceful resolution of North Korean crisis
Thornton said any new North Korean nuclear test "would draw a pretty significant global response". The Trump administration hasn't ruled out a military strike against North Korea.

Heading home or on a new job: Fresno victims shot at random
It says she barricaded herself in the motel room after Kori Ali Muhammad gunned him down, forcing police to break down the door. Muhammad led investigators through the crime scene at the motel as well as the locations from Tuesday's shootings, Dyer said.

Samsung sees strong demand for Galaxy S8 despite Note7 fiasco
Although its predecessor, the Galaxy S7 was an fantastic device, the Galaxy S8 comes out on top when both of these are compared. In a new post on Twitter, Samsung Mobile India has teased the launch of its flagship phones in India on April 19, 2017.

General Motors plant seized, protesters killed in Venezuela
Foreign governments are also warning about the increasingly bellicose rhetoric coming from the government. Maduro continues to delay overdue presidential elections after losing his majority in parliament in 2015.