Juniors apparel store Rue21, a staple of U.S. malls, has declared bankruptcy and revealed plans to shut down over 540 stores, including 20 in Illinois, according to a report from the Chicago Tribune.
The company announced the Chapter 11 bankruptcy last Thursday, attributing the closure to a drop in sales revenue. The company released Instagram posts promoting an "everything must go" sale. All stores are anticipated to close within the coming two months.
Rue21 has outlets in several suburban areas, such as North Riverside Park Mall, Fox Valley Mall, and the Chicago Premium Outlets in Aurora, with additional locations in Cicero, Lincolnwood, and Joliet.
Rue21 was founded in 1976 and based in Pennsylvania. The clothing retailer's recent Chapter 11 bankruptcy filing is one of several filings over the years, having previously filed for bankruptcy in 2017 and 2003.
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