A national teen clothing retailer based in Lafayette is facing closure as part of its Chapter 11 bankruptcy filing. Rue21, which operates two stores in the city, filed for bankruptcy for the third time on Thursday. According to Bloomberg, the company reported assets and liabilities between $100 million and $500 million.
The majority-owned private credit investment firm Blue Torch Capital owns Rue21. As part of the bankruptcy proceedings, the company will also sell its brand and hold going-out-of-business sales in the near future. Currently, Rue21 has a store in the Acadiana Mall and another at Stirling Lafayette shopping center.