This Once-Popular Teen Clothing Chain Is Closing All 500+ Stores, Including Over 30 in NC

This once-popular teen clothing chain is closing 500+ stores, 30 of which are located in NC.Photo byMasaski Komor/Unsplash

According to a new report by Yahoo Finance, a popular teen clothing chain is closing all 500+ stores - including over 30 of them in NC. According to the report, fashion retailer rue21 has filed for Chapter 11 bankruptcy and is closing all its locations.

The retailer said it would close all 543 stores in the next two months and will be "conducting major out-of-business sales in the meantime". The chain currently has 31 stores located in NC including Concord, Fayetteville, Raleigh, Wilmington, Winston-Salem, and High Point. This is not the first time that the retailer has filed for bankruptcy.

The chain also filed for bankruptcy in 2003 and 2017. The chain is currently $194.4 million in debt and has roughly 4,900 employees.