Teen 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