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It seems the devastating effects of the nation's response to the pandemic continue reach into 2024.  It might have been 3 years ago when the world went mad... but we're still feeling it today.

Even before the pandemc, brick and mortar retailers were already suffering losses from many factors like increased wages, young adults not wanting to enter the work-force, and of course, the most damaging, online shopping.  Retailers that didn't adjust their business model to accommodate for online orders in addition to in-store shopping quickly found themselves woefully behind.

So for those retailers already struggling, the pandemic pretty much just pushed a lot of them over the edge.  Who would've thought Sears would ever close??  Here's a list of stores that have either closed or have had to make major cuts in order to survive according to US News & World Report.

  • Bed Bath & Beyond
  • First Republic Bancorp
  • SVB Financial Group
  • J.Crew
  • Tailored Brands
  • JCPenney
  • Hertz Global Holdings Inc.
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Getty Images
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RUE21 TO CLOSE 16 LOUISIANA LOCATIONS

Originally known 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. This isn't the first financial trouble they've faced, as they have filed for Chapter 11 bankruptcy three times. But this time they will now close not only the 16 Louisiana locations, but they are closing all 541 of their stores. They plan to have all of the stores closed down within the next 2 months.

Retailer Rue 21 To Close All 540 Stores Amid 3rd Bankruptcy
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The corporation most recently 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 tried to find a buyer, but found it made more financial sense to sell its inventory and just close all of its outlets compared to what any buyer was willing to pay. Gordon Brothers, a financial expert, will help the store close deals.

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