Bebe Closing Oakton Area Store in May

OAKTON, VA -- Bebe, a clothing store for young women, will close all of its stores by the end of May, according to documents it filed Thursday with the Securities and Exchange Commission. This includes a Oakton area store at the Fair Oaks Mall (11750 Fair Oaks Mall, Fairfax).

Bebe Stores Inc. is based in Brisbane, Calif., and has 180 locations in the United States and Canada.

Earlier in the month, the chain had filed paperwork noting it planned to close only 21 stores, which represented roughly 12 percent of its total outlets. CNBC reports Bebe was trying to re-organize and considering a move to online-only sales. Net sales at Bebe fell 13.5 percent in the first six months of its current fiscal year, which ended Dec. 31. It recorded a net loss of $13 million over that same period.

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

In the SEC filing the company said it will pay a consultant $500,000 to sell the chain's inventory, and it will pay an impairment charge of about $20 million, net of deferred rent and other credits, by closing the stores. This impairment charge will be recorded in the third and fourth quarters of this year, according to the SEC filing.

Find a list of all Bebe stores here.

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