by: Mitchell Northam, The Atlanta Journal-Constitution
Another popular retailer is ditching its brick-and-mortar stores and going to an online-only business.
Bebe Stores Inc., a women’s clothing chain which operates fewer than 200 store locations across the United States, is closing all its stores and shifting its focus to become an online-only retailer.
Bloomberg first reported the news on March 21. It said Bebe has “no significant debt” but has lost about $200 million over the last four years.
Bebe released a statement on March 22, saying that it is “exploring strategic alternatives for the company” and “there is no assurance that this process will result in any specific transaction.”
Bebe, based in Brisbane, California, was founded in 1976.