{"id":572,"date":"2021-01-14T06:44:58","date_gmt":"2021-01-14T06:44:58","guid":{"rendered":"https:\/\/www.subastralinc.com\/pub\/blogs\/?p=572"},"modified":"2025-02-08T05:54:13","modified_gmt":"2025-02-08T05:54:13","slug":"just-over-three-years-after-bankruptcy-rue21-will-open-15-new-stores","status":"publish","type":"post","link":"https:\/\/www.subastralinc.com\/blog\/just-over-three-years-after-bankruptcy-rue21-will-open-15-new-stores\/","title":{"rendered":"Just Over Three Years After Bankruptcy, Rue21 Will Open 15 New Stores"},"content":{"rendered":"

Rue21 filed for bankruptcy about three years ago, but the retailer has bounced back and is opening new stores.<\/p>\n

The Announcement <\/strong><\/p>\n

A recent press release from Rue21 announced that the retailer would be opening 15 new stores beginning in January. This is in addition to the three stores it recently opened. According to CFO Michele Pascoe, the company has been consistently beating its expectations. It has also been increasing comparable sales annually.<\/p>\n

The success of Rue21 in recent months and years is particularly striking given the struggles of its competitors.<\/p>\n

Rue21\u2019s Recovery <\/strong><\/p>\n

Following its bankruptcy, Rue21 was in a financial position with strong enough performance to retire its debt. At the same time, it increased the availability of its asset-based facility. The result was $100 million in liquidity.<\/p>\n

Filing for bankruptcy in 2017 let Rue21 close over 400 stores while reducing its debt by millions. This also came with new lenders taking over.<\/p>\n

Rue221 had to file for bankruptcy due to challenges that other retailers also faced. The drop in mall traffic was a significant factor. What helped Rue21 recover was the relatively smooth bankruptcy process, resulting in quick reorganization.<\/p>\n

The Current State of Rue21 <\/strong><\/p>\n

At its height, Rue21 had about 1,200 stores. Now, it has almost 700 stores. The retailer has made numerous changes this year. These include launching \u201crue rewards,\u201d its loyalty program that already has 2.8 million members. The retailer also expanded its plus-size offerings and hired Bill Brand, the former HSN President, as its SEO.<\/p>\n

Comparing Rue21 to Other Retailers<\/p>\n

Other retailers that filed for bankruptcy at the same time as Rue21, such as Payless and Gymboree, have had less success. Both of those stores had to file for bankruptcy again in the last year. By contrast with Rue21, other retailers have suffered significantly from the pandemic.<\/p>\n

Sources:<\/p>\n

https:\/\/www.retaildive.com\/news\/bankruptcy-alum-rue21-plans-to-open-15-new-stores\/592370\/<\/a><\/p>\n

https:\/\/www.bizjournals.com\/pittsburgh\/news\/2020\/07\/20\/rue-21-expanding-in-the-south.html<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Rue21 filed for bankruptcy about three years ago, but the retailer has bounced back and is opening new stores. The Announcement A recent press release from Rue21 announced that the retailer would be opening 15 new stores beginning in January. This is in addition to the three stores it recently opened. 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