Major Clothing Store Filing Bankruptcy and Closing All 16 of Its Louisiana Stores

The national teen clothing retailer Rue21 has announced it is filing bankruptcy and will close all its stores, including 16 Louisiana locations.

This is the third time that the company has filed for bankruptcy.

The Pennsylvania-based retailer got rid of $700 million in debt when it filed for bankruptcy in 2017 and closed 400 stores. Rue21 also filed for bankruptcy back in 2003.

Among the 16 Louisiana stores, two are in Lafayette. Rue21 has a store in the Acadiana Mall and the Stirling Lafayette shopping center (3001 Louisiana Avenue).

Below are all the cities that Rue21 has locations in Louisiana:

• Alexandria
• Baton Rouge (2)
• Bossier City
• Gonzales
• Gretna
• Hammond
• Harahan
• Houma
• Lafayette (2)
• Monroe
• New Iberia
• New Orleans
• Ruston
• Slidell

In the next 4 to 6 weeks, the retailer, owned by the private credit investment firm Blue Torch Capital, will sell its brand and conduct going-out-of-business sales to liquidate its inventory.

Bloomberg reported that the company has listed assets and liabilities between $100 million and $500 million.

The company reportedly employs nearly 5,000 people and operates in 45 states. Across the country, it will be closing 540 stores.