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Tuesday, April 11, 2017, Torrance. (Photo by Steve McCrank, Daily Breeze/SCNG) Womens fashion chain Bebe has become the latest retailer to close its stores, disclosing plans to lay off about 700 employees by the end of May, including 22 who work at outlets in El Segundo and Torrance, according to notices filed with the state. The company has roughly 35 stores in California. Shuttering its apparel stores effective May 27 is a move to focus on online sales. The company is closing the locations without filing for bankruptcy, anonymous sources told Bloomberg News. However, if enough landlords are unwilling to negotiate, the company may have to file for bankruptcy. Bebe has no significant debt, but lost $200 million over the past four years, Bloomberg reported. Bebe announced last month it was exploring strategic alternatives for the company. The announcement followed an almost 17 percent reduction in net sales for the second quarter of 2016, which included the crucial holiday shopping season. Comparable store sales for the quarter ending Dec. 31, 2016, generally seen as a reliable indicator of a retail business strength, decreased 10.5 percent compared to the same period the prior year.
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