Express Inc., a former leader in casual office attire, has filed for Chapter 11 bankruptcy protection and plans to sell the majority of its stores. The company, faced with fierce competition from fast fashion giants like Zara and H&M, will close 95 Express stores and all 10 UpWest locations. Express has received a letter of intent from WHP Global, Simon Property Group, and Brookfield Properties for the potential purchase of its operations.
Express Inc., a fashion retailer, has filed for Chapter 11 bankruptcy and announced plans to close over 100 stores. This move comes amid restructuring efforts, with the company appointing Mark Still as its new CEO. Express listed its assets and liabilities in the range of $1 billion to $10 billion, and has secured $35 million in new financing and $49 million from the CARES Act.
Clothing retailer Express Inc. has filed for Chapter 11 bankruptcy and announced plans to sell a majority of its stores to a consortium led by WHP Global, Simon Property Group, and Brookfield Properties. The company has received a $35 million financing commitment and $49 million from the CARES Act to facilitate the sale. Express will close approximately 95 Express retail stores and all UpWest stores.
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.
