Final countdown: Bebe stores will be closed by end of May

May will be a sad month for fans of Bebe Stores, as the U.S, fashion retailer will shutter down all its physical stores across the U.S, by the end of the month.

Bebe share its plans earlier this week in a filing with the Securities and Exchange Commission (SEC). The official communication said Bebe expects to record a 20 million dollars impairment charge as a result of the closings.

According to its web, the womenswear chain has to close 134 stores and 34 outlet stores in the country. Regarding its online presence, it was not indicated in the filing whether Bebe would stop selling clothes online, although they said at an earlier date they will continue to sell online.

Only upside of such news was that the stock closed 6 percent higher last Friday.

Bebe thus joins the ranks of failed retailers such as The Limited or American apparel, which shut its stores because of a drop in sales and other financial struggles.