May 2, 2024 - Business

Rue21 closing all stores in retailer's third bankruptcy

Shopper walks by a rue21 store

Retailer rue21 is closing all of its stores. Photo: Dustin Chambers/Bloomberg via Getty Images

Teen fashion retailer rue21 plans to close all of its 540 stores after filing for Chapter 11 bankruptcy for the third time Thursday.

Why it matters: The move is the latest in a series of retailers closing all their locations, including The Body Shop and 99 Cents Only.

Driving the news: In court documents, rue21 said stores are "scheduled to close in the next 4 to 6 weeks."

  • The company is also looking to sell its intellectual property.

Flashback: The brand filed for Chapter 11 in 2017 and closed around 400 of its nearly 1,200 stores.

  • It also filed for bankruptcy in 2002.

Zoom out: Several other retailers have filed for bankruptcy this year — with 99 Cents Only Stores and The Body Shop also shuttering all U.S. locations, per Axios' retail bankruptcy tracker.

  • Crafts retailer Joann also filed for bankruptcy in March, while mall-based clothing retailer Express filed in April — with both of them aiming to survive.

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