Express, Inc., a pioneer in casual office attire, has succumbed to the competitive pressures of fast-fashion giants like Zara and H&M, leading to a Chapter 11 bankruptcy filing. As part of its reorganization strategy, Express has initiated closing sales at 95 of its stores across 30 states. This move follows a non-binding letter of intent from WHP Global, a consortium looking to acquire a majority of Express’s stores. Express’s bankruptcy filing aims to expedite this sale process, which will result in the closure of all 10 UpWest stores as well. The exact locations of the Express stores slated for closure can be found in court filings. Despite these closures, Express emphasizes that it intends to maintain its regular business operations beyond its UpWest storefronts. The company will continue to operate its extensive network of over 530 Express retail and Express Factory Outlet stores in the United States and Puerto Rico, alongside approximately 60 Bonobos Guideshops. Express’s online operations for these brands will also remain active. At the time of its bankruptcy filing on March 2, Express reported total assets of $1.3 billion and total debts of nearly $1.2 billion. The petition was filed in the U.S. Bankruptcy Court for the District of Delaware.
Express Stores Close as Bankruptcy Filing Proceeds
