Ruue21, the apparel retailer, will open 15 new brick and mortar locations beginning in January in addition to the three new locations it opened this year.
Rue21 is currently performing better than many other retailers in the apparel industry despite the current situation surrounding COVID-19. Its current position is partly attributed to surviving Chapter 11, which the company filed for in 2017. After filling, Rue21 was able to scale down and close 4000 stores, and also reduce debt by millions of dollars. After filing for bankruptcy, the company went through a leadership change where it is now being run by lenders from Apax Partners, a private equity firm.
Michele Pascoe, the Chief Financial Officer of Rue21 stated that the apparel retailer was surpassing year over year sales projections.
Image Credit: Rue21