Apparel retailer BeBe (BEBE announced that it will be closing all of its stores by the end of May, about a month after the company said that it was exploring strategic alternatives due to falling revenue.
The company will liquidate its inventory and store fixtures and take an impairment charge of $20 million, which it said will be recorded in its third and fourth quarters. The company had 180 stores as of the end of 2016.
BeBe shares were down nearly 3% early Friday morning.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)