Bebe, a clothing store catering to young women, will close all of seven of its Virginia locations by the end of May.Bebe Stores Inc. has 180 locations in the United States and Canada. The company has filed paperwork with the Securities and Exchange Commission announcing it will close all of its locations next month. That includes all seven popular locations in Virginia. In just the first half of the company’s current fiscal year, net sales at Bebe have fallen by 13.5 percent. This translates to a $13 million loss. Many brick-and-mortar stores have reported significant declines in revenue in recent years. Barnes and Noble just closed a location in Bethesda, Maryland after struggling for years to compete with online sellers like Amazon. Bebe is considering moving to online-only sales after the restructuring.
If you’re hoping for a ‘Going Out of Business Sale,’ you may be disappointed. Instead of handling the inventory themselves, Bebe hired a consultant to sell off their stores’ remaining inventory. While some locations may have sales, it is more likely that this merchandise will be sold in bulk to discount retailers like Marshalls or T.J. Maxx. Bebe is a well known brand in Virginia. In addition to its Tysons Corner store, the company also had boutiques in Arlington, Norfolk, Fairfax, Richmond, Woodbridge, and Williamsburg. All of these stores will be closing. Originally, the company hoped it would only have to close 21 locations, sparing all of Virginia’s stores. Ultimately, the company leadership decided a full restructuring was necessary in order to save the company.