Rue21, a national teen clothing retailer with two stores in Lafayette, has filed for Chapter 11 bankruptcy. The company, which operates 16 stores in Louisiana, reported assets and liabilities between $100 million and $500 million, according to Bloomberg.
The majority of Rue21 is owned by private credit investment firm Blue Torch Capital. As part of the bankruptcy filing, the retailer will also sell its brand and hold going-out-of-business sales in the near future.
Rue21 currently has a store in the Acadiana Mall and the Stirling Lafayette shopping center. The closure of all its locations marks the end of an era for the popular clothing retailer.