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FILE PHOTO: Christmas Tree Shops will move in next from Holyoke Mall into the former Bed Bath & Beyond down the street in Holyoke Crossing with an updated name and new concept. Both locations are shown here Dec. 14, 2021.

The clothing store rue21, focused on trendy clothes, shoes and apparel for teenagers, will be closing more than 540 of its stores across the country.

The mall staple filed for bankruptcy on Thursday, stating in court filings that it “recently suffered operational losses stemming from, among other things, underperforming retail locations, the continued growth of online shopping and industry competition, inflation and macroeconomic headwinds, and difficulties raising capital in an amount sufficient to meet their liquidity needs and fund operations.”