New York CNN —Rue21, a mall staple for teen apparel, is going out of business and closing all 540 of its stores within the coming weeks.
The retailer, which has about $200 million in debt and 4,900 employees, has been struggling financially in recent years despite a 2017 bankruptcy that the company hoped would turn Rue21 around.
Its stores, which are located in 45 US states, will close within the next 4 to 6 weeks and “going out of business” sales are beginning soon.
Express filed for bankruptcy last month and announced it was closing about 100 stores.
99 Cents Only Stores, a discount chain, also said in April it was going out of business.
Persons:
New York CNN —, Michele Pascoe, Rue21, ” Pascoe, “, Neil Saunders, ”, Rue21 didn’t, Joann
Organizations:
New, New York CNN, GlobalData, CNN
Locations:
New York, Pittsburgh, ”