rue21 stores in Cartersville, Acworth among 400 to close nationwide: rue21, Inc., a teen specialty apparel retailer, reports it has filed a voluntary petition for reorganization under chapter 11 and has entered into agreements with some lenders to reduce the company’s debt and provide additional capital in support of its restructuring. Last month, the company began the process of closing approximately 400 underperforming stores among its 1,179 shops nationwide.
Among them are Bartow Marketplace near Lowe’s and Walmart in Cartersville and one on North Cobb Parkway in Acworth.
The closings, according to a corporate release, will allow the company to “streamline operations, better align the size of its footprint with market realities, and focus on its hundreds of highly performing locations. rue21 may evaluate additional store closings as it continues to manage its real estate lease portfolio.” The store at Mount Berry Mall and Calhoun Outlet Marketplace remain open.