The teen clothing retailer operates roughly 540 locations in malls and other outlets across the US, according to court documents.

MIAMI VALLEY — A national teen clothing retailer with eight stores in Ohio has filed for Chapter 11 bankruptcy and plans to close all its stores. Rue21, which is majority-owned by Blue Torch Capital, filed for bankruptcy for the third time Thursday and listed assets and liabilities between $100 million and $500 million, according to Bloomberg.

Clothing company Rue21 has filed for Chapter 11 bankruptcy for the third time in 21 years. The retailer plans to hold going-out-of-business sales for the next four to six weeks.