CRANBERRY, Pa. — Pennsylvania-based teen clothing retailer rue21 is restructuring and filing for Chapter 11 bankruptcy protection about a month after announcing it would close roughly 400 stores to focus on online sales.
The Hazel Dell Marketplace and Vancouver Mall stores will close in June. The company is also closing its Beaverton and Lloyd Center locations in Oregon.
The company announced last month that it is shuttering the stores, leaving it with more than 700 stores in 48 states.
The company, based in Cranberry, Pa., announced Tuesday that its bankruptcy filing accompanies agreements with lenders to restructure some debt and obtain more capital.
