You’re lying if you say you never once owned a pair of Bebe’s signature tank tops or any of their accessories. In the early 2000s, Bebe was hot sh*t and it was nearly impossible to get away from the brand since almost everyone was wearing their clothing, including the rhinestone logo across their chest.
Bebe had a good run while it lasted, but their stores will soon be completely shutting down later this year.
Anonymous sources told Bloomberg how the company plans to close their stores without filing for bankruptcy. If enough landlords aren’t willing to negotiate, then a Chapter 11 bankruptcy will be required no matter what.
They also mentioned that even though they will be shutting down all their stores, Bebe will continue their sales online and focus more on their website as an international and wholesale business. Many other companies have also taken this route after filing for bankruptcy, including RadioShack and HHGregg, who are now directing their businesses online.
According to Bloomberg, Bebe was part of notable collaborations with the likes of the Kardashians and Mischa Barton but doesn’t have a specific number when regarding its sales and debt. The brand lost about $200 million over the past four years and on top of that, their stock has fallen more than 80% percent in the last two years, which brought Bebe’s stores plummeting down.
They’re not alone. BCBG is filing for bankruptcy and Abercrombie has announced that they will be shutting down nearly 60 stores in 2017. Malls will be nothing but a middle school memory sometime in the very near future. RIP Bebe.