Tuesday, May 16, 2017

Teen clothing retailer Rue21 files for Chapter 11 bankruptcy protection

Image result for rue 21Teen clothing company Rue21 filed for Chapter 11 bankruptcy protection Monday in a Pennsylvania court.

"These actions are being undertaken with the goal of strengthening the Company's balance sheet, achieving a more efficient cost structure, and concentrating resources on a tighter retail footprint in order to pave the best path forward for rue21," CEO Melanie Cox wrote in a statement.

Rue21 also warned that it could evaluate additional store closures now, in addition to the already-planned 400 closures that began in April.. . . more

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