Rue 21 Closing All Stores: Report

Teen fashion retailer rue 21 (Warrendale, Pa.) plans to close all 540 of its stores after filing for Chapter 11 bankruptcy for the third time, Axios reports.

In court documents, rue 21 said its mostly mall-based stores are “scheduled to close in the next 4 to 6 weeks” and that it is also looking to sell its intellectual property.

This is the struggling chain’s third trip into Chapter 11, Axios noted; the previous times were in 2002 and 2017, at which time it closed roughly 400 of its then-1200 stores.

As of this posting, the retailer had not yet released any statement on the bankruptcy filing, and its website was down.