Rue 21s in Arizona closed after business closure

A “fashionable” clothing retailer aimed at a younger audience, with seven locations in Arizona, will close all 543 stores, according to USA Today.

Rue 21 filed for Chapter 11 bankruptcy and tried to sell its business, but there was no willing buyer willing to pay more than the company would make on sales going bankrupt, according to Reuters. The company has 4,9000 employees and a debt burden of $194.4 million.

The company posted on Instagram on Friday saying it was “going into bankruptcy. All stores. Everything has to go.” The company’s website is currently down.

Reuters reported that the company also filed for bankruptcy in 2003 and 2017. In 2017, it had to close 400 of its 1,000 stores in a deal that allowed it to reduce $700 million in debt.

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In 2022, the company received a $25 million investment from existing lenders, who currently own 80% of Rue 21’s shares. The report said the company plans to sell its brand separately from slot sales, according to Reuters.

Where will Rue 21’s close in Arizona?

While still open for the closing sale, currently 30-50% off, these seven Rue 21 locations in Arizona will close.

1400 North Litchfield Road, Goodyear, Arizona.

6800 North 95th Avenue, Glendale, Arizona.

13375 West Grand Avenue, Surprise, Arizona.

7611 West Thomas Road, Phoenix, Arizona.

5613 East State Route 69, Prescott, Arizona.

5000 South Arizona Mills Circle, Tempe, Arizona.

6555 East Southern Avenue, Mesa, Arizona.