Rue 21, A Youth Clothing Retailer, Has Filed For Bankruptcy Protection.

This month, the US bankruptcy retail force is expected to add one member to the youth clothing retailer.

Inc., Payless ShoeSource Inc., one of the largest footwear retailers in the country, has filed for bankruptcy protection on Tuesday, April, 4 in accordance with the eleventh chapter of the US bankruptcy law.

According to the world clothing and shoe net, Rue 21 Inc., owned by private Holdings Company Apax Partners LLP, is preparing to file for bankruptcy.

The retailer is in the shopping mall and on the street.

There are about 1100 stores in the district and outlets, which sell men.

Clothing, accessories and cosmetics.

Rue21 Inc. has been negotiating with the store owner through real estate consultants, and has also sought assistance from the Rothschild & Co. restructuring consultant in preparing for bankruptcy.

Apax Partners LLP privatized Rue21 Inc. in 2013 at $1 billion 100 million, when J.P. Morgan Chase & Co. NYSE:JPM (NYSE:JPM) J.P. Morgan, Bank Bank, LLP, Merrill Lynch and Goldman Sachs (Goldman) Goldman Sachs offered 780 million dollars in loans for the paction.

Rue21 Inc. has thus taken on a huge debt and is now responsible for accumulating close to $1 billion. Under such a retail environment, the retailer is apparently unable to pay its debts.

For the rumor of bankruptcy, Rue21 Inc. said in a statement that they are making efforts to improve operations and improve liquidity, and have been actively exploring the best solution with lenders and debtors.

In the past two years, the US has already gone bankrupt, such as Wet Seal Inc., Aeropostale Inc. and American Apparel LLC, and so on. Among them, Wet Seal Inc. and Wet are two bankruptcies in the short term.

Even if they can continue to operate, many retailers choose to take strategic actions in response to changes in market and performance.

So far, Macy 's Inc. (NYSE:M) Messi general store group (Guan Dian 100), J.C. Penney Co. Inc. Inc. (NYSE:JCP) Penny department store (Guan 130-140 shop), Sears Holdings Holdings (H), E & amp; E (Guan) (Guan 60 shop), Kun (H) (Guan 160 shop) and Inc. (Guan 60) have already released a large-scale shop closing plan, and the women's clothing retailer (NYSE:M) has decided to end all physical stores and pform into pure e-commerce brands.

These retailers have a large number of stores in the shopping mall, but online shopping is the future of retail.

Payless ShoeSource Inc., with a staff size of 22 thousand, said it would close 400 stores in about 4000 of 30 countries, all in the US and Puerto Rico.

According to the world clothing and shoe net, this year, the US retailers have announced a total of 2057 stores, and clothing retailers and department stores account for 82% of the total, which is 2060.

On the other hand, Payless ShoeSource Inc., like Rue21 Inc., is heavily involved in the environment as well as the debt of LBO (leveraged buy-out). Similarly, the US luxury goods department group Neiman Marcus Group LTD LLC, Nyman Markus group and fashion retailer, such as Group and so on.

Payless ShoeSource Inc. hopes to cut nearly half of its debts through bankruptcy reorganization, while Neiman Marcus Group LTD LLC Niemann Marcus group is seeking sale. It may fall into the Hudson Bay Group, a Canadian retail group that owns luxury goods department Saks Fifth Avenue Sax Fifth Avenue.

More interesting reports, please pay attention to the world clothing shoes and hats net.