Teen clothing retailer rue21 plans to close all its stores and sell its intellectual property after having filed for bankruptcy a third time.
The Warrendale, Pennsylvania-based retailer, which at one time had 1,000 brick-and-mortar stores, previously sought Chapter 11 bankruptcy protection in 2003 and 2017, and had closed hundreds of locations.
This time, rue21 plans to shutter its roughly 540 primarily mall-based stores in the next four to six weeks, aiming to wrap-up the process by May 31,…
Source: The Business Journal
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