After filing for Chapter 11 bankruptcy for the third time, clothing store, rue21, will be shuttering all off their stores across the U.S.
A mall staple, rue21, was a popular stop for teens to get the latest fashion, however the retailer has been struggling for years. USA Today reports that they first filed for bankruptcy in 2003 and then again in 2017. At the time they closed 400 stores.
The company attempted to look for a buyer but failed to do so because it would’ve cost more to buy than liquidate all of their products. They’re currently over $190 million in debt.
rue21 currently operates 540 stores in 45 states, and closing sales are expected to begin in the next 4-6 weeks.
The retailer has three E. TN locations, including in Knoxville at West Town Mall and at Tanger Outlets in Sevierville.
Photo By: rue21 via Facebook
