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Bebe reportedly closing all stores; 80% in properties owned by SNL-covered cos.

Women's fashion retailer bebe stores inc. is reportedly planning to shift gears to become an online retailer.

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Shoppers walk past a bebe advertisement in Miami Beach in 2015.
Source: Associated Press

Bloomberg News, citing people familiar with the situation, reported March 21 that the company plans to close all of its 171 physical stores in the U.S. and Canada. Bebe said in a March 22 statement that it is exploring strategic alternatives, for which it has retained B. Riley & Co. It has also brought on a real estate adviser to "assist with options related to its lease holdings."

According to SNL data, 133 of the company's 163 U.S. stores are in properties owned by 11 SNL-covered real estate companies. At 65, Simon Property Group Inc. owns the largest number of properties with a bebe store. GGP Inc. and Westfield Corp. lease space to the retailer at 21 and 15 properties, respectively.

Bebe also has eight stores in Canada, but none are at properties owned by SNL-covered companies.

To download a complete list of bebe's U.S. and Canada stores in excel format, click here.

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