A teen clothing retailer is going out of business and closing all its stores | ABC10

A teen clothing retailer is going out of business and closing all its stores | ABC10

A teen clothing retailer is going out of business and closing all its stores | ABC10

Rue21, a popular teen apparel retailer, finds itself in dire straits again, filing for Chapter 11 bankruptcy protection for the third time. With plans to shutter all 540 of its stores, the company faces the grim reality of liquidating its inventory rather than attempting to salvage its business through a sale. Despite selling efforts, no bids matched the potential earnings from closing down.

Operating for over four decades under the mantra of making fashion fun and accessible, rue21 reached its peak in 2013 with 1,000 stores. However, subsequent bankruptcies in 2003 and 2017, along with the closure of 400 underperforming locations, marked a decline. Presently, the retailer spans 45 states, primarily in strip malls, regional malls, and outlet centers, with Texas boasting the highest number of stores.

The company aims to wrap up its going-out-of-business sales within the next 4-6 weeks, alongside selling off its intellectual property. Expressing uncertainty about its online presence, rue21’s website hints at updates, reflecting the tumultuous changes underway. This development follows closely on the heels of another fashion giant, Express, which also sought bankruptcy protection and announced closures of over 100 stores……….full-loaf-600x400-1-e1700879832480 A teen clothing retailer is going out of business and closing all its stores | ABC10[read more]

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Rising-Dough-e1700879911412 A teen clothing retailer is going out of business and closing all its stores | ABC10How do bankruptcy filings and store closures of major retailers like rue21 and Express impact the companies and the broader economy, including consumers, investors, and other businesses in the retail sector?

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

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chloe hollinger
10 days ago

The overall effect is often a contraction in the retail sector that can slow broader economic growth, at least in the short-term, as the market adjusts.

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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chloe hollinger
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chloe hollinger
10 days ago

The overall effect is often a contraction in the retail sector that can slow broader economic growth, at least in the short-term, as the market adjusts.

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