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Apparel retailer Bebe Stores says to shut all stores

April 21 Struggling apparel retailer Bebe Stores Inc said it will close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives.

The company also plans to liquidate all merchandise and fixtures within the stores, it said in a regulatory filing on Friday. (bit.ly/2obl8s3)

The retailer expects to recognize an impairment charge of about $20 million from the store closures, which will be recorded in the third and fourth quarters. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)

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