Tuesday, April 18, 2017
Rue21 Closing 400 Stores.
Popular teen clothing chain Rue 21 announced it will be closing 400 stores. The Warrendale, Pennsylvania-based chain has come to the decision of closing 400 "unprofitable" stores of its over 1,200 store chain, leaving about 700 stores open. There is only one answer, loosing sales thwart competition from online sales and equal competition in the landscape, like Zara and H&M. Store closing sales are set to begin as early as next week, although the closing dates have not been set according to the Chicago Tribune.
This is only another hit to the ever growing trend of the American retail apocalypse. Since late last year, several chains have filed for bankruptcy and either closed several stores, or gone out of business, this has added up to over 4,000 empty store fronts across the country.
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Posted by john bozic