This Famous Retail Store Rue21 Is Closing Every Store In Ohio
One of the most well-known retailers that really blew up in the 2000s is going to be closing every single location in the country, including locations in Ohio after filing for Chapter 11 bankruptcy. Rue 21 has been a staple since the 70s since being established in Pennsylvania and currently has about 540 stores throughout the entire country, but now it looks like there will soon be zero.
Apparently, Rue 21 is currently nearly $195 million in debt, and it doesn’t appear that the retailer will be bouncing back anytime soon. This is definitely unfortunate, as back in the day I remember going to Rue 21 because they had really wild-looking shoes for super cheap. Sure, they only lasted about 5 to 6 months, but for five dollars what do you want?
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Trouble For Other Businesses
Either way, this is unfortunate news, and many of the places that were very popular in the 90s and 2000s are starting to see financial troubles, including places like Red Lobster. Times are changing and unfortunately, time is not too helpful for these mall retailers, as we are still struggling to find success with malls in today’s age in the United States.
What's Next For Rue 21?
According to a report, they plan on holding sales until it's time to close the doors for good:
The company has plans to sell itself during the procedure and will pursue a potential sale with any interested parties. As part of that plan, rue21 will close all of its remaining 540 stores nationwide. Liquidation sales began on May 3, and stores are expected to complete liquidation sales within the next 3 to 6 weeks.
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