 Logo used since 2003 | |
| Formerly | Pennsylvania Fashions (1970–2003) |
|---|---|
| Company type | Subsidiary |
| Industry | Retail |
| Founded | 1970 |
| Founder | Cary Klein (Rue21) |
| Headquarters | Warrendale, Pennsylvania |
Number of locations | 32 (as of July 26, 2024) |
Key people | Josh Burris (CEO) |
| Products | Casual apparel and accessories |
| Parent | YM Inc. |
| Website | rue21 |
New rue21, LLC (rue21) is an American specialty retailer of women's & men's casual apparel and accessories headquartered in the Pittsburgh suburb of Warrendale, Pennsylvania. Their clothes are designed to appeal to people who desire, wish, or feel to be 21.[1] In 2013, Apax Partners, a global private-equity firm, acquired the company by funds advised for $42.00 per share in cash.[2][3] rue21 filed for Chapter 11 bankruptcy protection on May 16, 2017, and emerged on September 22, 2017, after the company's reorganization plan was confirmed by the U.S. Bankruptcy Court for the Western District of Pennsylvania.[4] New owners include hedge funds BlueMountain Capital Management, Southpaw Asset Management and Pentwater Capital Management.[5] In May 2024, rue21 declared bankruptcy again, and their website became unsupportive. As of June 28th, 2024, 7 stores have resigned leases, as part of a stalking horse buyout from YM Inc. Fashion House, a Canadian retailer, while the public assets were up for auction. The company has plans to reopen up to 120 stores within the coming months.
- ^ "Rue21". Forbes.
- ^ Apax Partners Completes Takeover of rue21 (Press Release)
- ^ "Funds Advised by Apax Partners Complete Acquisition of rue21". Archived from the original on 2019-08-28. Retrieved 2019-08-28.
- ^ "Cranberry-based teen retailer rue21 emerges from bankruptcy". Pittsburgh Post-Gazette. Retrieved 2018-01-19.
- ^ "U.S. retailer rue21 in search of financing months after exiting..." Reuters. 2018-02-10. Retrieved 2018-06-25.