RUE21 CLOSING ALL STORES, FILES BANKRUPTCY
17 Video Views·May 8, 2024
The clothing retailer rue21 announced it's closing all of its stores within the coming weeks after filing for Chapter 11 Bankruptcy last week. NTD's Jason Blair has the story.
Fashion retailer Rue21 will be shutting doors on all of their 540 stores across 45 states.
The company has filed for bankruptcy two other times in 2003 and 2017.
It's been in operation for the past 44 years.
According to court documents, Rue21 tried to sell its business,
but ultimately decided it would earn more by closing shop and liquidating its inventory.
The retailer is expected to finish holding going-out-of-business sales
at all of its stores within four to six weeks.
It's also expected to sell Rue21's intellectual property.
As of Monday, the company's website says it's being updated and to check back soon.
Also recently in April, Fashion Retailer Express
filed for Chapter 11 bankruptcy and announced nearly 100 store closures.
Jason Blair, Entity News.