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Warrendale, Pa. — Teen clothing retailer rue21 has completed its financial restructuring and emerged from the Chapter 11 process.
The company began to close approximately 400 underperforming stores in April, and filed for Chapter 11 bankruptcy on Monday, May 15. Kirkland & Ellis LLP acted as rue21’s legal advisor, Rothschild Inc. acted as investment banker and financial advisor, and Berkeley Research Group acted as restructuring advisor throughout the process.