The restructuring is an important step forward in rue21’s ongoing business transformation into a more focused and highly performing retailer. Last month, the Company began the process of closing approximately 400 underperforming stores in its 1,179 store fleet in order to streamline operations, better align the size of its footprint with market realities, and focus on its hundreds of highly performing locations. rue21 may evaluate additional store closings as it continues to manage its real estate lease portfolio.
In conjunction with the restructuring, rue21 has entered into a Restructuring Support Agreement (RSA) with certain of its stakeholders that confirms the su…
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