Cranberry Township-based teen clothing retailer rue21 has filed for bankruptcy a third time.
According to the Post-Gazette, the company says it plans to market itself and pursue a potential sale with any interested parties. Experts blame a shift in consumer behavior as shoppers look beyond the traditional mall.
The company previously filed for bankruptcy in 2003 and 2017. In 2017, rue21 closed 400 stores and cut about $700 million in debt.
Now, the company will shut down all of its 540 stores remaining.
