Retailer Express Inc., parent of Bonobos and UpWest, has filed for Chapter 11 bankruptcy and plans to close approximately 95 retail stores, including all UpWest locations. The company currently has 530 Express stores in operation, with an additional presence in Mexico and Central America.
A committee of unsecured creditors has filed a court motion demanding that WeWork engage with potential buyers, including co-founder Adam Neumann, in negotiations. The creditors also request a 30-day deadline for WeWork to formulate an exit plan from bankruptcy. Despite expectations of emerging from Chapter 11 by May 31, WeWork’s restructuring efforts have faced setbacks due to missed deadlines and financial constraints.
Clothing retailer Express has filed for Chapter 11 bankruptcy and will close 95 of its locations throughout the U.S. The company said those locations would begin having clearance sales Tuesday. Additionally, Express announced that all five of its UpWest stores will close. A consortium led by WHP Global plans to buy a majority stake in the retailer as part of the bankruptcy process.
Popular retailer Express Inc., which has operated a store in the Staten Island Mall for years, has filed for bankruptcy. The company announced plans to close more than 100 locations as part of a restructuring effort.
Express Inc., a popular fashion retailer, has filed for bankruptcy after experiencing continuous challenges due to an unappealing merchandise selection that failed to resonate with customers. The company plans to close 95 Express locations and all UpWest stores, effective April 23rd.
Express, a longtime mall retailer, filed for Chapter 11 bankruptcy protection and plans to close stores. The company had faced financial distress and declining sales. A group of investors led by WHP Global is looking to acquire the company through a sale process. The bankruptcy will provide Express with relief and allow it to implement its turnaround strategy, including closing costly leases and improving financial performance.
