Rue21 files bankruptcy for third time, to close all stores

Teen clothing retailer rue21 has once again filed for bankruptcy and will now close all stores.

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The store that touts selling “the trendiest clothing at affordable prices” had filed for bankruptcy in 2002 and 2017, according to Bloomberg.

Going-out-of-business sales will be held over the next month to month and a half. The owners are also selling the company’s intellectual property, separate from the clothing sales.

The store is headquartered in Warrendale, Pennsylvania, and is majority-owned by Blue Torch Capital, The Wall Street Journal reported. It currently has 540 locations across the country.

Reuters reported that the company tried to sell off the business but no buyer would pay more than the retailer would earn by liquidating.

It has 4,900 employees and is currently $194.4 million in debt, according to Reuters.

In the filing on Thursday, it listed assets and liabilities of between $100 and $500 million, Bloomberg reported.

The following stores are on the list of closures in the Miami Valley and Ohio:

* Dayton Mall, 2700 Miamisburg Centerville Rd, Miami Township (Montgomery County)
* North Park Center, 8341 Old Troy Pike, Huber Heights (Montgomery County)
* Bechtle Crossing, 1600 N Bechtle Ave, Springfield (Clark County)
* The Mall at Fairfield Commons, 2727 Fairfield Commons, Beavercreek (Greene County)
* Cincinnati Premium Outlets, 400 Premium Outlets Dr, Monroe (Butler County)
* Stone Creek Town Center, 3667 Stone Creek Blvd, Northgate (Hamilton County)
* EastGate Mall, 4601 Eastgate Blvd, Union Township (Clermont County)
* Western Hills, 6180 Glenway Ave, Cincinnati (Hamilton County)

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