rue21 will close 17 stores in SC after bankruptcy: See the Upstate locations on the list
Fashion retailer rue21 has filed for a Chapter 11 bankruptcy and is moving forward with the process of closing all stores, including its 17 remaining South Carolina locations.
Previous reporting from the IndyStar said that the company will close all 543 locations in the next two months, and will be holding major out-of-business sales until all stores are closed. Court documents filed in U.S. Bankruptcy Court in Delaware show that rue21 will also sell its intellectual property.
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Locations of rue21 stores in South Carolina
The store currently has 17 outlets remaining in South Carolina, including one location each in Anderson, Greenville and Spartanburg. The following areas have rue21 locations which will close over the next two months:
Anderson (1)
Beaufort (1)
Columbia (1)
Florence (1)
Gaffney (1)
Greenville (1)
Greenwood (1)
Myrtle Beach (3)
North Charleston (2)
Orangeburg (1)
Rock Hill (1)
Spartanburg (1)
Summerville (1)
Sumter (1)
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Previous rue21 bankruptcies
Rue21 is based in Warrendale, Pennsylvania. The company has filed for bankruptcy twice before, closing 400 stores in response to its 2003 and 2017 declarations of bankruptcy. These closures cut roughly $700 million in debt.
Reuters said that rue21 currently has about 4,900 employees and is $194.4 million in debt.
Originally named Pennsylvania Fashions Inc., rue21 was formed in 1970 and operated under several different names. Upon exiting its first bankruptcy in 2003, the brand was renamed rue21.
Rue21 attempted to find a buyer, but was unable to find one willing to pay more than the company would earn by liquidating its inventory and shutting down stores, according to Reuters. Financial consultant Gordon Brothers will assist the store with closing sales.
John Tufts and Emily DeLetter, Indianapolis Star, contributed to this report.
Iris Seaton is the trending news reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach her at iseaton@citizentimes.com.
This article originally appeared on Asheville Citizen Times: rue21 bankruptcy: All 17 SC stores will close
