Categories: Headlines

Rue21 Closing Select Stores

Teen retailer Rue21 (Warrendale, Pa.) announced it will close 400 of its stores.

Rue21 currently operates 1000 stores, reports the Pittsburgh Business Times. The retailer went private in 2013, and last fall, its CEO Robert N. Fisch was replaced by CFO Keith McDonough.

Rue21 is $824 million in debt. It was also reported that the retailer had entered into forbearance over missing interest and amortization payments.

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