Rue21 Files For Chapter 11 Bankruptcy Protection

Popular teen/young adult store rue21 is closing around 400 of it’s 1,200 locations and filing for Chapter 11 bankruptcy protection, according to CNN.

Rue21 seeks $175,000,000 in financing to stay in business, if approved by a court.

According to a press release, Rue21 is making changes to “better align the size of it’s footprint with market realities, and focus on it’s hundreds of highly performing locations.”

Click2Houston reports 38 Texas locations will close, including:

  • Dallas
  • Plano
  • Frisco
  • Rockwall
  • Denton
  • Weatherford
  • Wylie

Retail continues to battle on-line sales with some companies, including Bebe, deciding to focus their sales attention that direction. Bebe plans to close all stores by month’s end.

In a research report from last month, brokerage firm Credit Suisse predicts up to 8,600 stores will close this year.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From 100.3 Jack FM - Dallas, TX

Radio.com App
All Access Pass With Billy Kidd
WIN Stuff

Listen Live