One Of The World’s Biggest Labels Filing For Bankruptcy
Your high school self is not going to like what I’m about to tell you.
Just one month after announcing the closure of several of its stores, BCBG is now filing for bankruptcy, according to the Business Of Fashion.
As a result the brand will be closing 200 stores and it could potentially mean the end of BCBG as you know it.
Devastating!!! We all remember their signature sparkly cocktail dresses that adorned every It Girl in the 2000s. Miley Cyrus, we’re looking at you.
Miley Cyrus wearing BCBG to the L.A. premiere of Hannah Montana: The Movie in 2009.
Although some reports say that the company may sell to brand licensing firms or other companies, which could mean those four big letters may not be completely dead just yet.
The announcement comes just on month after the label announced it was facing financial hardship and would be axing some of its 570 independent, worldwide boutique locations and focus on more e-commerce and shops within shops.
Demi Lovato wears BCBG to the 2011 Teen Choice Awards.
Seth Lubove, a spokesman for BCBG at Sitric & Co, said at the time, that the brand had “"too large a physical retail footprint.”
"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."