Express, Inc., a once-trendsetting clothing retailer, has begun closing sales at 95 of its stores following a Chapter 11 bankruptcy filing. The closures include all 10 UpWest stores and represent part of a larger plan to facilitate Express’s sale to a consortium led by WHP Global. Despite the closures, Express plans to continue operating as usual, with over 500 Express and Express Factory Outlet stores remaining open, along with Bonobos Guideshops and online operations.
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.
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.
