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Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection.
Fashion retailer Express Inc has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes...
COLUMBUS, Ohio--(BUSINESS WIRE)--Apr 22, 2024--
Express Inc (OTC:EXPR) and subsidiaries file Chapter 11 petitions, signaling a strategic move to optimize operations and strengthen financial position. The retailer plans to shutter 95 stores, including all UpWest outlets, with a commitment of $35 million in new financing. Amidst this restructuring, Express receives $49 million from the IRS and eyes a potential majority stake sale to WHP Global-led consortium.
Express Inc. has filed for Chapter 11 bankruptcy protection, as the fashion retailer looks to sell the majority of its stores.