Rue 21 announces plans to close all 540 stores after filing for bankruptcy again [Video]

Clothing retailer Rue 21 has announced it will close all 540 locations in the coming weeks as part of its Chapter 11 bankruptcy proceedings, according to Axios. The formerly popular teen-fashion retailer will also look to sell all of its intellectual property in the matter.

The closures come as part of the company’s third bankruptcy filings in the last 22 years. The company first filed for Chapter 11 protection in 2002 and then again in 2017. During the 2017 proceedings, Rue 21 closed approximately 400 stores nationwide, including 16 in Michigan.

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It is unclear if or when closeout sales will begin at Rue 21 stores, but the company did say it will be closing all stores in the next four-to-six weeks.