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, a national clothing retailer, has filed for bankruptcy and plans to close 18% of its stores, including seven in New Jersey. The company cites financial pressures and the challenges facing the retail industry as reasons for the move. Express is seeking court permission to honor outstanding gift cards and customer merchandise credits, but that is not a given.
Express Inc., the fashion retailer, has filed for Chapter 11 bankruptcy protection and plans to sell most of its stores. The move will include shuttering 95 Express retail stores and all UpWest stores, with closing sales beginning immediately. Express says it will continue to operate as usual amidst the bankruptcy filing.
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.
