Gastonia clothing retailer prepares to close for good

Clothing retailer Rue21 filed for bankruptcy for the third time, and will close all 543 of its stores, according to reports from USA Today.

Employees at Gastonia’s 3680 E. Franklin Blvd. location say that the closure includes their store.

According to reports from Reuters, Rue21 filed for bankruptcy in 2003 and again in 2017, at which point the chain closed 400 of its stores.

Today, Rue21 has approximately 4,900 employees and $194.4 million in debt, the report says.

The company looked into selling but found that it would not make as much money through sale as it would from liquidating inventory and closing doors, it added.

There is currently no set date for the Gastonia location to close, however closing sales have already started with the entire store marked down 30-40%.

This article originally appeared on The Gaston Gazette: Gastonia clothing retailer prepares to close for good