Rue21 shuts down: Teen retailer’s third bankruptcy marks end of an era in fashion

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Teen fashion retailer rue21 plans to close all of its 540 stores after filing for Chapter 11 bankruptcy for the third time Thursday.

Why it matters: The move is the latest in a series of retailers closing all their locations, including The Body Shop and 99 Cents Only.

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Driving the news: In court documents, rue21 said stores are “scheduled to close in the next 4 to 6 weeks.”

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