Overview

• Rue21, struggling with nearly $200 million in debt, will also sell its intellectual property.
• The store closures are scheduled over the next four to six weeks, with 'going out of business' sales starting immediately.
• Previous efforts to revitalize the brand failed despite closures and debt reductions in past bankruptcies.
• No buyer was found for the business, leading to a decision to liquidate rather than continue operations.
• Increased online shopping and economic challenges cited as major factors in the company's decline.