The beleaguered women's retailer Bebe is swiftly closing all of its stores following years of declining sales and losses, Forbes reported on Friday. The women's clothing and accessories retailer said in a regulatory filing on Friday that it would move to close all of its stores by the end of next month. It also plans to liquidate all its merchandise and store furnishings. Bebe, which had 180 stores at the end of last year, was founded by Iranian-born immigrant Manny Mashouf in 1976. Bebe's plan to close its stores comes less than a month after it said it was considering strategic alternatives. According to a Bloomberg report, the company is trying to stave off bankruptcy by closing stores and shifting its resources online. Bebe did not provide any information about its plans for the future on Friday. As a result of the store closings, Bebe will incur an impairment charge of roughly $20 million to be recorded in the third and fourth quarters.
