Bebe lays off more than 700 in California

Could Bebe be saved?

Courtesy of TheStreet

Bebe reported to the California Employment Development Department, that effective May 27, it would lay off 717 employees.

The Brisbane-based headquarters will cut 136 of its people, while its Los Angeles design office will cut 160 employees.

There are also more layoffs coming from their 35 stores, including Brea and San Francisco.

Last month, the retailer made public that it would close 21 stores, costing Bebe $9.4 million, although it has sought B. Riley & Co. for alternatives in exploring its portfolio.

In documents, filed with the Securities and Exchange Commission, Bebe stated it was “continuing to explore options with respect to its remaining stores.”

Bebe is the latest store to restructure its portfolio before bankruptcy. Retailers, like Macy’s, Wet Seal, American Apparel and Nasty Gal have had to shutter stores.

According to Women’s Wear Daily, Bebe had been searching to reorganize their company back in 2015.

Bebe’s shares have dropped 44.5 percent with rumblings of closing last month, yet there is still hope that the company will salvage itself by focusing its business online.

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