Another Store Closing in St. Cloud Crossroads Mall – Bankruptcy

Here we go.  It's always sad to hear about these things happening. This time it's another retail store that has announced that they are filing chapter 11 bankruptcy which usually means that they will be restructuring, but this time, closures will happen.

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Rue 21, which has 7 stores in Minnesota will close all of it's stores.  This is after they tried to sell to new owners a few times and apparently there were no takers.  So, that means that ALL of their stores will close.  That includes 540 stores in 45 states, 7 of which are here in Minnesota.

From Bring Me the News: 

The Chapter 11 bankruptcy protection filing was submitted after the business unsuccessfully attempted to sell to new owners. It's the third time Rue21 has filed for bankruptcy, doing so in both 2002 and 2017, according to court records.

Rue 21 sells very trendy clothing and accessories.  And maybe that's the issue?  Too trendy?

Some of the issue might also be people leaning towards online shopping, and many stores have been pushing shoppers towards their websites.  But this has still not been enough.  Even with many offers going with "online only" deals, this hasn't been enough to keep some retailers open with a brick and mortar store.

Recently we heard about Express restructuring and closing several stores, same with Macy's, Best Buy and Bed Bath and Beyond.  Some of these stores affected the St. Cloud market and some did not.  It just depends on how the numbers work out.  Luckily, if you do like some of these stores that are closing, there is usually (sometimes) still an online option.