Another national retailer is calling it quits after the pressures of a changing retail environment, disastrous COVID-19 policies and Bidenomics caused the chain to make some hard choices.
Rue21, which was once a mainstay in malls all across the country, will close all 540 of its stores in the coming weeks, according to CNN.
The Warrendale, Pennsylvania-based clothing chain filed for bankruptcy on Thursday. It plans to begin offering steep discounts on its remaining inventory, but after that is all gone, the 40-year-old chain will be shut down forever.
Deals will be set at 20 percent to 50 percent of retail prices and likely will rise to 90 percent until everything is gone, the U.K.’s Daily Mail reported.
Owners of the retailer tried to find a buyer to keep the doors open but found no takers, according to court filings.
Rue21 has outlets in 45 states, according to WNEP-TV. Texas is its largest market with 51 stores, followed by Georgia with 39.
