Isaac Brekken/WireImage via Getty Images(NEW YORK) — Your shopping mall is losing another store.
Bebe is planning on closing all of its stores by the end of May this year, according to a filing made with the Securities and Exchange Commission.
The filing said Bebe expects to record a $20 million impairment charge as a result of the closings. On its website, the women’s retailer lists 134 stores and 34 outlet stores in the U.S. that are still open.
News of the store closings on Friday caused shares of Bebe Stores, Inc. to finish the session 6 percent higher.
It was not indicated in the filing whether Bebe would stop selling clothes online.
Bebe is the latest fashion chain to close its physical stores while fast-fashion retailers like H&M, Forever 21, and Zara dominate shopping malls. In January, mall-staple The Limited shut its stores because of a drop in sales. The apparel chain said at the time it would continue to sell its clothing online.
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