We are only three months into 2017 but it's already been a tough year for America's malls.
At the start of the year, Wet Seal and BCBG both announced that they will shutting down all of their stores and instead they will foray into online-only retail. Prior to that major chains like Macy's, JCPenney, CVS, and Payless announced that they will be closing many of their locations as well. Last month, another company announced that it will be following in their footsteps.
Bebe, an apparel chain best known for its rhinestone-embellished crew neck t-shirts, trendy cocktail dresses and clubwear will be closing 170 stores reports Bloomberg. The company isn't planning to file for bankruptcy, instead they will venture into e-commerce and focus on debt reconstruction.
Although unfortunate, this news isn't very surprising as Bebe has been struggling in the past two years. The company sold half of its brand to Bluestar Alliance LLC for extra cash after its shares fell more than 80%.
In the early 2000s, Bebe was a front-runner in the fashion world and can be credited for playing a key role in launching the fashion careers of the Kardashian sisters. But, it seems like there's nothing the reality stars can do to keep the company afloat.
The shift to online shopping has taken a toll on brick-and-mortar stores forcing them to scale back on the number of locations or even worse, declare Chapter 11 bankruptcy.
Bebe hasn't released more details on the impending store closures so keep your eyes peeled for updates on which locations will be part of the first 25 to go and if they will have some closing sales.