Rue 21 announced that it filed for bankruptcy and will close all of its stores, which is over 500 brick and mortar locations. According to The Kansas City Star , "The Pittsburgh-based company, founded in 1970 as Pennsylvania Fashions, had about 1,000 stores, mostly in U.S. malls, at its peak. It is now majority-owned by Blue Torch Capital, a private equity firm. In a court filing, interim CEO Michele Pascoe said the bankruptcy was the result of "under-performing retail locat