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BCBG Might Be Filing for Bankruptcy

Photo credit: Getty
Photo credit: Getty

From Cosmopolitan

High school you is going to be so hurt by this news: BCBG is closing a ton of stores and restructuring, according to Bloomberg.

The plan to reportedly axe some of its 570 independent, worldwide boutique locations (BCBG has 175 stores in the U.S. alone) and focus more on e-commerce and shops within shops was announced on Wednesday. Apparently the brand had "too large a physical retail footprint," Seth Lubove, a spokesman for BCBG at Sitric & Co. told Bloomberg. "In order to remain viable, the brand - like so many others in it's industry - must realign its business to effectively compete in today's shopping environment."

In its heyday, the label's sparkly cocktail dresses could be seen on all your early 2000s fashion role models, including the popular senior at your school (for prom, duh), Miley Cyrus, and Demi Lovato. Gotta love those high-low hems and fancy fringe, y'all.

Photo credit: Getty
Photo credit: Getty
Photo credit: Getty
Photo credit: Getty

Though the company is facing financial stress (Bloomberg says it's coping with a "debt burden"), there are no current plans to shutter the label completely, sell to another retailer, or file for bankruptcy.

Update 2/28: Just one month after announcing the closure of several stores, it looks like BCBG will actually be filing for bankruptcy very soon.

According to the Business of Fashion, the company is prepping to file as early as next week. Additionally, the brand will be closing 200 stores. While this could be the end of BCBG as you know it, it doesn't necessarily spell the end of the label. The company could reportedly sell to brand licensing firms or other companies, which would mean you could still see those four letters on your dress tags for years to come.

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