Rue21 to Close All Stores Following Bankruptcy Filing

by Hayden Spiess

Warrendale, Pa. — Rue21, an apparel and accessories retailer based in the Pittsburgh area, has filed for bankruptcy and will close all its stores in the coming months, according to reports from multiple news organizations such as CNNReuters and The Business Journals. All three of those media outlets report that this is the third bankruptcy filing in the history of Rue21, which operates about 540 stores nationwide, down from more than 1,000 at the height of its existence. Following Rue21’s 2017 bankruptcy filing, the company closed some 400 stores. The retailer also shed about $700 million in debt at that time, according to Reuters. However, subsequent growth in e-commerce, along with the COVID-19 pandemic, continued to create operational struggles for the retailer. Today, Rue21 has about $200 million in outstanding debt, according to reports from the aforementioned media groups.

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