Women's retail clothier Bebe has announced the decision to close all of its nearly 180 stores.
The 41-year-old retailer has suffered several years of losses and will shutter all brick-and-mortar stores by the end of May.
Earlier this year, the company issued a statement to shareholders, promising to explore strategic alternatives in hopes of turning profits around. Just shy of one month later, company officials made the decision to close all physical stores. CNBC speculates that Bebe may become an online-only clothing shop, while other sources indicate the closing of the stores is simply to avoid bankruptcy.
Bebe is not the first retailer to succumb to the shift in e-commerce power. Recent announcements of other stores also forced to close include Vanity, Rue 21 and Aeropostale, among others. And this may only be the beginning as online giants like Amazon gain further footing in the world of online fashion sales, more brick-and-mortar stores are likely to fall.
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