NORFOLK, Va. — Teen apparel retailer rue21 has filed for Chapter 11 bankruptcy protection for a third time and plans to close all of its remaining 540 stores.
According to court documents, rue21 attempted to sell its business, but none of the bids were as much as could be earned through shutting down its stores and liquidating its inventory.
The Warrendale, Pennsylvania-based retailer, which previously filed for bankruptcy in 2003 and 2017, operated for the last 44 years under the motto that “fashion should be fun and accessible to all."
At its peak in 2013, rue21 had 1,000 stores. After filing for bankruptcy in 2017, it closed 400 "underperforming" locations and renegotiated store leases.
The retailer currently operates more than 540 brick-and-mortar stores in 45 states around the U.S. with locations in strip malls, regional malls, and outlet centers, according to court filings. Texas has the most stores with 51, followed by Georgia with 39 stores and Florida and North Carolina are tied for third-most with 30 locations in each state.
The company expects to complete the "going out of business sales" at all of its locations within the next 4-6 weeks. It's unclear when those closing sales may begin. It will be simultaneously running a sale for rue21's intellectual property.
As of Friday morning, the company's website said it was "being updated" and encouraged visitors to check back soon.
This comes less than two weeks after fashion retailer Express filed for Chapter 11 bankruptcy and announced plans to close more than 100 locations.
List of Virginia rue21 stores closing
8300 Sudley Road (Suite C-8), Manassas, VA 20109
2700 Potomac Mills Circle (Suife 144), Woodbridge, VA 22192
630 Spotsylvania Mall, Fredericksburg, VA 22407
1850 Apple Blossom Drive (space N117A), Winchester, VA 22601
1925 E. Market Street (sp# 316), Harrisonburg, VA 22801-5433
4501 D S. Laburnum Ave. (suite# 570), Richmond, VA 23231
11500 Midlothian Turnpike (suite 744), Richmond, VA 23235
1412 Greenbriar Parkway (suite #107), Chesapeake, VA 23320
5900 E Virginia Beach Blvd. (Suite 132), Norfolk, VA 23502
300 Monticello Ave. (Suite 103), Norfolk, VA 23510
12300 Jefferson Ave. (Suite 938), Newport News, VA 23602
232 South Park Mall (suite #F55), Colonial Heights, VA 23834
4802 Valley View Blvd. (sp# LB60), Roanoke, VA 24012
475 B Simons Run, Lynchburg, VA 24502 '325 Piedmont Drive (Space 420), Danville, VA 24540