Rue21 files for Chapter 11 bankruptcy
May 16, 2017
Rue21, a retail chain with more than 1,100 stores, filed for Chapter 11 bankruptcy protection yesterday. The teen clothing retailer, which announced plans to close 400 locations last month, is evaluating the need to close additional stores. It has reached agreements to obtain new financing to support the chain’s day-to-day operations as it goes through the restructuring process.
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