Rue21 Closing All GA Stores After Bankruptcy Filing
GEORGIA — Teen clothing retailer Rue21 will close all its stores, including 39 in Georgia, after filing for Chapter 11 bankruptcy last week, according to reports.The Pennsylvania-based company has 540 locations and $194.4 million in debt, and had tried to sell its business but apparently found no buyer who would pay more than the expected earnings from liquidation and closing, Reuters reported.Rue21 had previously filed for bankruptcy twice, in 2003 and 2017, according to Reuters, which reported the company had continued to struggle in the face of the coronavirus pandemic and increased interest in online shopping.“Rue21 does not have a very compelling proposition and is losing customers to other retailers and to cheaper and more interesting fashion platforms like Shein,” retail analyst Neil Saunders told CNN. “There is still a big question mark over whether the retail market needs Rue21 to exist.”The company’s stores will close in four to six weeks and will be preceded by going-out-of-business sales, CNN reported.Rue21 has 39 Georgia locations in: Albany (1)Athens (1)Atlanta (2)Augusta (1)Austell (1)Buford (1)Calhoun (1)Columbus (1)Commerce (1)Conyers (1)Dalton (1)Dawsonville (1)Douglasville (1)East Point (1)Fayetteville (1)Fort Oglethorpe (1)Gainesville (1)Griffin (1)Hiram (1)Kennesaw (1)Lagrange (1)Lawrenceville (1)Lithonia (1)Locust Grove (1)Macon (2)Marietta (1)Mcdonough (1)Morrow (1)Moultrie (1)Newnan (1)Pooler (1)Rome (1)Snellville (1)Statesboro (1)Tifton (1)Valdosta (1)Warner Robins (1)The article Rue21 Closing All GA Stores After Bankruptcy Filing appeared first on Across Georgia, GA Patch.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings