Ghost Town Malls: Bebe The Latest To Shutter Stores

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The company has one store in Maryland, located at Montgomery Mall, 7101 Democracy Blvd.in Bethesda.

Consultant will be paid $550,000 in consideration for its services, plus reimbursement for certain expenses, and will receive an additional fee of 15% of the gross proceeds generated from the sale of the furnishings, trade fixtures, equipment and improvements to real property.

The company, which had 180 stores at the end of 2016, also plans to liquidate all merchandise and fixtures within the stores, it said in a regulatory filing.

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Bebe Stores (BEBE) says its clothing brand was inspired by Shakespeare's famous "to be, or not to be" soliloquy from Hamlet. The charge will be recorded in the third and fourth quarters of this year.

The retailer has been struggling for a while. For the six months ended January 2, same-store sales decreased 7.4%. Earlier this year, The Limited and The Wet Seal closed all their stores.

The fashion retailer has suffered four straight years of losses. The filing didn't specify whether it will continue as an online-only retailer.

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Bebe has not commented on the closure and there was no mention of it on the company's website Friday morning.

"While we saw improvement in the week before Thanksgiving and the two weeks before Christmas, the results for those three weeks were not sufficient to offset the overall negative traffic trends in the first three weeks of November", Mashouf said in February.

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