Rue 21 files for bankruptcy

(CNN)– Rue 21 is hitting the road.

The teen apparel mall chain announced it is going out of business and shutting down all 540 of its stores.

The Pittsburg-based business filed for bankruptcy this week. The third time it has done so in its existence.

Rue 21 is roughly $200 million in debt and wasn’t able to rebound from when it declared bankruptcy in 2017.

According to a court filing, CEO Michele Pascoe said the company was severely impacted by the Covid-19 pandemic and other market trends.