FASHION retailer Rue21 is closing all 39 of its locations in one state after filing for bankruptcy. The national chain will shut all of its stores, including a cluster in Georgia . Rue21 is based in Pennsylvania and has 540 locations to shut, and it will soon pull out of the Peach State, according to Patch .
Photos shared on Facebook show the store is advertising liquidation sales of 50-70% off in at least some locations. The 39 locations are spread across the state. Atlanta and Macon will each lose two Rue21 stores.
It’s not clear how many employees in Georgia will be affected, or when exactly the last stores will shut. All stores are set to close within the next three weeks, according to CNN . Rue21 announced earlier this month it would close all its locations.
The company filed Chapter 11 bankruptcy, which typically does not mean a company is going out of business. Instead, the process is meant to help companies sell off assets and restructure to eliminate debts. Rue21 was trying to sell its stores, but failed to find a buyer that would pay more than the value of the inventory itself, according to Reuters .
The closure of all 540 stores will impact around 4,900 employees. The company already sold hundreds of locations in a 2017 bankruptcy filing. It also filed bankruptcy in 2003.
Now, there are only weeks remaining for shoppers to get deals from Rue21. Bankruptcy is a specific legal process that helps companies eliminate debt they can't repay. The process allows business.
