Rue21 to Shutter All Stores in Final Bankruptcy Filing

The teen clothing retailer announces closure of its 540 locations nationwide amid its third bankruptcy since 2003.

Rue21, struggling with nearly $200 million in debt, will also sell its intellectual property.
The store closures are scheduled over the next four to six weeks, with 'going out of business' sales starting immediately.
Previous efforts to revitalize the brand failed despite closures and debt reductions in past bankruptcies.
No buyer was found for the business, leading to a decision to liquidate rather than continue operations.
Increased online shopping and economic challenges cited as major factors in the company's decline.