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.
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.
Update 3/2: The company officially filed for chapter 11 bankruptcy on March 1. Marty Staff, Acting Interim Chief Executive Officer of BCBG Max Azria Group, LLC., released the following statement:
BCBG is an iconic brand that launched the contemporary sector of 28 years ago. The steps we are taking now, to address the shift in customer shopping patterns and the growth of online shopping, will allow us to focus on our partner relationships, digital, commerce, selected retail locations, and wholesale and licensing agreements. The chapter 11 filing will further aid the implementation of these steps and overall strategy while we explore opportunities to recapitalize the Company and profitably expand our international footprint.
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Rachel Torgerson is the fashion features director at Cosmopolitan, overseeing fashion coverage online, in print, and on our various social media platforms. She has over a decade of experience in the fashion and media industries, musing on style through multiple lenses, including cultural, celebrity, and bridal. Her ultimate focus: making fashion less exclusive and more relatable. Before landing at Cosmopolitan as a digital fashion editor in 2016, she worked at Us Weekly, The Knot, and Fitness Magazine, among others. When she's not discussing runway trends, you can definitely catch her trying (and, in many cases, failing) a new crochet cardigan pattern or in a spirited debate about the difference between the Bridgerton books vs the Netflix series. Follow her on Instagram and TikTok: @RachelTorgs
