Major Clothing Retailer Closing All 16 Stores In Louisiana

For many shops both national and local, the past few years have been difficult. An increasing number of retailers are choosing to close some or all of their locations due to the unstable state of the economy and the ongoing impact of the 2020 COVID-19 pandemic on certain businesses.

No one has taken a bigger hit than Southwest Louisiana. Between the COVID-19 pandemic, the economy, and back-to-back hurricanes, some local businesses were never able to recover. Now we are even seeing more and more national brands behind to close their doors.

When you look at some of the big-name National Stores that have shut down, some jarring ones stand out. Now, not all of these stores have closed down, some are just not what they were pre-pandemic because they have had to scale back their businesses due to the struggles. Here is a list of some of the National Businesses that took the biggest hits during the post-pandemic processes according to U.S. News.

• Bed Bath & Beyond
• First Republic Bancorp
• SVB Financial Group
• J.Crew
• Tailored Brands
• JCPenney
• Hertz Global Holdings Inc.

RUE21 HAS FILED FOR BANKRUPTCY

The corporation, which has its headquarters in Warrendale, Pennsylvania, filed for bankruptcy in March of this year, citing the COVID pandemic and a significant change in consumer behavior as reasons.

According to Reuters, Rue21 looked for a buyer but was unable to locate one who would pay more than the business would make by selling its inventory and closing its outlets. Gordon Brothers, a financial expert, will help the store close deals.

RUE21 TO CLOSE 16 LOUISIANA LOCATIONS

Originally established as Pennsylvania Fashions Inc. in 1970, Rue21 is a well-known retailer of teen clothing that changed its name to Rue21 in the late 1980s. They filed for Chapter 11 bankruptcy three times during their turbulent period as Rue21, and they will now close all 541 of their stores—sixteen of which are in Louisiana. All of the stores are planning to be closed down within the next 2 months.